RDF Media receives takeover bid

Major UK independent producer RDF has received a takeover bid from a consortium which includes its management team, its board said last night.

The company behind hits such as Wife Swap, Location, Location, Location and Scrapheap Challenge is currently listed on the AIM.

In a statement released to the City it said it had received an "indicative cash proposal to acquire the entire issued and to be issued share capital of the company from a consortium including RDF Media's executive directors".

The statement continued: "Accordingly, an independent committee of the board of RDF Media composed of the independent directors will be formed to evaluate the indicative proposal.

"This approach is at a very early stage and there can be no certainty that an offer will be made or as to the terms of any such offer, should one be forthcoming. A further announcement will be made in due course, as appropriate."