ITV buys controlling stake in Thinkfactory Media

British media company ITV has struck a deal to acquire a 65% stake in Thinkfactory Media, a producer of reality and scripted content, for $30 million with an option to buy the remaining 35% of the company.

Best known for producing "Hatfields and McCoys," which won an Emmy and scored huge ratings for the History Channel last year, Thinkfactory was founded by Leslie Greif, a veteran television executive who will continue to oversee the company.

"While retaining the independent spirit that keeps Thinkfactory Media creative, this relationship not only allows us to continue producing top-quality scripted and unscripted content, but enhances the potential for global distribution and our continued success in the marketplace,” Greif said in a statement. 

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ThinkFactory first made its mark as a reality TV producer, and its credits include "Gene Simmons Family Jewels," which ran for several seasons on A&E. It has more recently pushed into drama fare and has new shows in development for cable channels History, Spike and A&E.

For ITV, the purchase is part of a broader push to establish itself in the United States. Earlier this year, it acquired production company High Noon Entertainment, and last year it took a controlling stake in Gurney Productions, maker of the A&E hit "Duck Dynasty."

“We’re gathering real momentum in building a substantial U.S. presence, which is central to our strategy of creating a strong international content business," ITV Chief Executive Adam Crozier said.


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