Shine acquisitions create £95m superindie

Elisabeth Murdoch’s Shine is to acquire indies Kudos Film and Television, Princess Productions and Firefly Film and Television imminently, creating a £95m (US$186.6m) UK powerhouse.

A Shine spokesman today confirmed the triple acquisition and said the deals were in advanced stages. The first is expected to go through within the next week.

C21 broke the news in November that Shine (Hex, Project Catwalk, Sugar Rush) was in discussions to acquire Princess, with a source claiming that the deal “was as good as done.”

Shine will pay around £65m in total for the indies- £35m for Spooks and Life on Mars indie Kudos Film and Television; £20m for Princess, which has produced the likes of The Friday Night Project and Something for the Weekend; and £10m for factual indie Firefly, which is behind BodyShock and Anatomy for Beginners.

Shine’s 2005 turnover was around £25m. The new group will have a combined turnover of around £95m. Sony Pictures Television International, which holds a 15% stake in Shine, is helping to back the acquisitions.

Murdoch, chief executive of Shine, said: “We are extremely excited about this development of the Shine business. Kudos, Princess and Firefly all stand for excellence within their respective fields. We share a creative culture, a passion for making great television and I believe there is significant potential for these combined businesses, both domestically and internationally.”

All three indies will retain their names and continue to operate independently, with all staff retaining their positions at the companies.

Kudos joint MDs Jane Featherstone and Stephen Garrett will join the Shine board, chaired by Murdoch, along with Princess co-founders Henrietta Conrad and Sebastian Scott, and Firefly’s MDs Nick Curwin and Magnus Temple.

It has been well known that Shine has been on an acquisitions drive for some time. The indie poached Talkback Thames chief operating officer Alex Mahon last month as MD. When she starts her new role in January she is expected to be instrumental in integrating the new companies.