ITV buys into DiGa

UK broadcaster ITV has acquired a controlling stake in DiGa Vision, the New York-based reality and scripted prodco behind shows such as Teen Wolf.

ITV will make an upfront cash payment for a 51% stake in DiGa Vision with an option to buy the remaining 49% at a later date between three and six years from now.

The past two years have seen the commercial broadcaster make some high-profile acquisitions on both sides of the Atlantic in its bid to beef up the number of production companies it owns.

Its buy-out of DiGa marks its fourth US acquisition after it paid US$40m for a 61.5% controlling stake in Duck Dynasty prodco Gurney Productions in 2012.

Since then, it has paid US$25.65m for a controlling stake in US reality TV producer High Noon Entertainment (Cake Boss) and US$30m for a controlling stake in Thinkfactory Media (Hatfields & McCoys).

In the UK, ITV paid £18m (US$27.4m) for London-based indie The Garden, the production company behind formats 24 Hours in A&E and The Audience.

Then, in July last year, it acquired comedy specialist Big Talk (Friday Night Dinner) for an initial sum of about £12.5m, which could rise to almost £30m, depending on Big Talk’s future performance.

ITV did not disclose the amount it has paid for the controlling stake in DiGa but said in a statement: “The multiple paid is similar to the range paid on ITV’s previous acquisitions.”

Supernatural drama Teen Wolf became MTV’s longest-running scripted series after it was picked up for a third season in 2012.