ITV in €1bn deal to bring Talpa’s de Mol on board
ITV WILL pay up to €1.1bn (£785m) to take over Talpa Media, the company behind programmes such as The Voice and Dating In The Dark.
ITV will pay an initial cash consideration of €500m for 100 per cent of Talpa’s share capital, with further payments dependent on the firm’s future performance.
The total sum, including the initial payment, is capped at €1.1bn and is contingent on Talpa continuing to deliver “significant profit growth” over the next eight years. It also hinges on Talpa boss John de Mol, the TV producer behind Big Brother, remaining with the business during that period.
Adam Crozier, ITV chief executive, said: “The acquisition of Talpa builds on the success of our international content business and is absolutely in line with our desire to create and own formats that travel. John de Mol and his team have an incredible track record of doing that consistently over many years.”
Meanwhile, de Mol said that, of all the potential partners for Talpa, ITV was undoubtedly the best fit.
“When it comes to the importance of content, the strategy of both successful companies is exactly the same and for Talpa this represents a fantastic opportunity for strong further growth,” he added. “It also enables me personally to concentrate and focus even more on creating new, groundbreaking content.” De Mol established the Netherlands-based production and distribution business in 2004. In the last six years, the company has created 75 shows which air in more than 180 countries.
Shares in ITV closed up 0.73 per cent yesterday.