Thinkfactory is latest U.S. production company to become part of ITV
ITV is acquring a 65 percent controlling stake in Thinkfactory Media, producer of the Emmy award-winning "Hatfields & McCoys," for $30 million.
The British company will also have an option to buy the remaining 35 percent of the company, beginning three years from now. Thinkfactory joins ITV’s growing number of U.S. production businesses, including Gurney Productions and High Noon Entertainment.
Thinkfactory was founded in 1992 by producer Leslie Greif and creates such reality shows as "R&B Divas," "Preachers’ Daughters," "Marriage Bootcamp: Bridezillas" and "The Hook-Up." It also produces dramas including "Texas Rangers" and last year's "Hatfields & McCoys" for History, as well as "Hit Men" for Spike and "Whitey" for A+E Networks.
“We’re gathering real momentum in building a substantial US presence, which is central to our strategy of creating a strong international content business," said ITV chief executive Adam Crozier. "The acquisition of Thinkfactory Media is clearly a further significant step forward in achieving that goal."
Added Greif: "We are thrilled to team up with Paul Buccieri and ITV, one of the world's most respected names in television. While retaining the independent spirit that keeps Thinkfactory Media creative, this relationship not only allows us to continue producing top-quality scripted and unscripted content, but enhances the potential for global distribution and our continued success in the marketplace.”