STV buys majority stake in Primal

Glasgow-based STV Productions has acquired a majority stake in unscripted producer Primal Media, the company behind shows including Carnage and Release the Hounds.

David Mortimer

The deal sees US studio Lionsgate, the previous majority owner of Primal, retain a minority stake in the company, with founders Adam Wood and Mat Steiner holding the remaining equity.

STV said there was “no upfront consideration” paid as part of the takeover, meaning it was concluded with STV shares, and the agreement includes the option for STV to acquire the remaining shares of Primal in the future.

The move comes after a strategic partnership between STV and Primal to co-develop formats to target UK and international networks and is part of STV’s plans to become a major player in the global production sector.

STV today said that plan was “to build a world-class production business based in Scotland that takes full advantage of the growing local and global demand for high-quality content.”

Established three years ago by Wood and Steiner, Primal’s slate of shows includes RTS Award-winning Release the Hounds for ITV2, Rose D’Or-winning Bigheads for ITV and Carnage for Sky1. The duo previously developed and exec produced formats including Cash Cab, Gamesmaster and Survivor.

Mat Steiner and Adam Wood

The acquisition “complements the strong track record in entertainment we have thanks to the work of [head of entertainment] Gary Chippington and his team,” said STV Productions MD David Mortimer.

“I’ve known Adam and Mat for many years and have always thought of them as two of the UK’s most talented entertainment producers. I’m looking forward to working on bringing some really ambitious unscripted projects to screen with them and their fantastic team.”

Wood, joint MD of Primal, added: “When we started talking to David about a regional partnership earlier this year, it quickly became apparent that our goals and strategies for growing Primal were very closely aligned.”