ITV buys Hatfields & McCoys maker

UK broadcaster ITV is paying US$30m for a controlling stake in Thinkfactory Media, the US producer of series including the Emmy award-winning Hatfields & McCoys.

Hatfields & McCoys

The upfront cash payment will give ITV a 65% stake in Thinkfactory, also giving the expanding UK company the option to buy the remaining 35% three years down the line.

The deal marks ITV’s third acquisition stateside in the past six months, following on from its US$26.65m investment in Cake Boss producer High Noon Entertainment last month and US$40m buy-out of Ducky Dynasty maker Gurney Production in December.

The stateside expansion comes as the company continues to grow back home, after buying out The Garden for £18m (US$27.4m) in April.

Thinkfactory has of late become best known for Hatfields & McCoy’s A+E Networks’ first drama series, which broke ratings records on its History channel.

But the Los Angeles-based firm is a leading producer of reality and entertainment programmes as well.

Founded in 1992 by Leslie Greif, Thinkfactory’s portfolio shows such as R&B Divas, Preachers’ Daughters, Marriage Bootcamp and The Hook-Up as well as another new History channel drama called Texas Rangers.

ITV CEO Adam Crozier said of the deal: “We’re gathering real momentum in building a substantial US presence, which is central to our strategy of creating a strong international content business. The acquisition of Thinkfactory Media is clearly a further significant step forward in achieving that goal.”

Thinkfactory will join the growing ITV Studios America family. CEO of the division, Paul Buccieri, who is also MD of ITV Studios International, said: “Through Leslie’s vision and expert leadership Thinkfactory Media has become one of the most admired producers in the industry. Leslie can effortlessly flow between producing scripted and reality shows – a skill increasingly admired by cable TV buyers.”

Greif added: “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.”