Media
All3Media is to move into the German production industry after securing a deal to acquire one of Germany's biggest independents.
The deal for MME Moviement, which produces Top of the Pops and a German version of the BBC's Great Britons, Unsere Besten, sees All3Media offer €7 per share for a 58% stake, valuing the German company at €78.3.
All3Media's German arm, Pertus Zehnte, will be renamed All3Media Deutschland, and has entered a share purchase agreement with MME's management to buy all of their combined shares in the company at €7 per share, bringing All3Media's stake to 97%.
Once MME accepts the public takeover, Pertus Zehnte will then secure the final 3% of the company.
All3Media chief executive Steve Morrison said: "MME Moviement has a very talented group of production companies run in a similar creative culture to ourselves. For All3Media, this is a milestone in our development towards an international independent TV production group."
Venture capitalist firm Permira paid £320 million for a majority stake in All3Media last August, putting pressure on the company, which already owns nine production companies including Lime Pictures and Cactus TV, to continue its rapid growth.
The deal for MME Moviement, which produces Top of the Pops and a German version of the BBC's Great Britons, Unsere Besten, sees All3Media offer €7 per share for a 58% stake, valuing the German company at €78.3.
All3Media's German arm, Pertus Zehnte, will be renamed All3Media Deutschland, and has entered a share purchase agreement with MME's management to buy all of their combined shares in the company at €7 per share, bringing All3Media's stake to 97%.
Once MME accepts the public takeover, Pertus Zehnte will then secure the final 3% of the company.
All3Media chief executive Steve Morrison said: "MME Moviement has a very talented group of production companies run in a similar creative culture to ourselves. For All3Media, this is a milestone in our development towards an international independent TV production group."
Venture capitalist firm Permira paid £320 million for a majority stake in All3Media last August, putting pressure on the company, which already owns nine production companies including Lime Pictures and Cactus TV, to continue its rapid growth.
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