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
"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.
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.