 |
       |
|
||||||||||||||||||||||||||||||
|
 |
|
Tinopolis pays $19m-plus for Pioneer  Welsh superindie Tinopolis has acquired factual specialist Pioneer Productions, one of the UK's largest remaining true independents, after finalising a deal last night worth at least £12m (US$19.7m). Pioneer's MD Stuart Carter, head of development Jeremy Dear and head of production Kirstie McLure will all stay with the company, which will retain its name. Sources close to the agreement said Tinopolis paid between £12m and £15m for the London-based prodco. The deal was brokered by accountancy firm Grant Thornton, which was also recently involved in Zodiak Entertainment's acquisition of a stake in UK indie Dangerous. Tinopolis Group MD Arwel Rees said: "Pioneer's programmes attract enormous international recognition, with most of their commissions coming from foreign broadcasters, which is key for any growing indie." Pioneer joins Tinopolis' portfolio of production companies, which includes Mentorn Media, Folio, Daybreak Pictures, Fiction Factory, POP 1 and Sunset + Vine. Pioneer's recent successes include coproducing Channel 4's Christianity: A History. It is currently working on a follow-up, called The Bible: A History. The company's portfolio includes the Emmy-winning series How the Earth Was Made, for US cablenet History; Journey to the Edge of the Universe, for National Geographic US and Discovery Canada; and Catastrophe, for UK terrestrial Channel 4. Carter said: "This is an exciting opportunity for us, at the right time in the growth of our company, and we are looking forward to being part of the Tinopolis family. This deal proves that the TV sector, especially the UK market, is a vibrant one. Large groups, encompassing a variety of indies, continue to prove themselves as a strong and successful business model." Adam Benzine 29 Oct 2009 © C21 Media 2009 
|
|
|
|
|
|
|
