DCD to sell Matchlight Media

UK-based producer and distributor DCD Media is selling its Scottish indie Matchlight to the latter’s management team.

DCD said its board did not consider Glasgow-based Matchlight to be material to the group on an ongoing basis, in a statement released this morning.

That’s despite Matchlight, known for BBC3’s Russell Brand: From Addiction To Recovery, being one of its busier prodcos.

The firm was confirming reports last week that Matchlight’s creative director Ross Wilson, MD David Smith and development director Jacqui Hayden were  buying out the firm.

Wilson will take a 48% share in the newly incorporated company, while Smith and Hayden will both take a 26% stake.

DCD said the completion of the sale remains subject to a number of conditions, adding that further details will be released in due course.

The firm has suffered financial losses since its long-running series Bridezillas was cancelled by WE TV in the US last year. In June it said it would focus more on its distribution business after revealing that its overall revenue fell by nearly £2m (US$3.35m) in 2013.

If the sale goes ahead, DCD expects to maintain a strong relationship with Matchlight as DCD Rights will retain a long-term option over the distribution of the company’s shows.

DCD stock rose by more than 5.3% to £2.50 (US$4.13) in early morning trading.