Endemol has acquired a majority stake in Authentic Entertainment, producer of nonscripted shows such as "Ace of Cakes," "Flipping Out!" and "Toddlers & Tiaras."
The Europe-based production conglomerate did not disclose a sale price in its Monday release, but a person close to the deal tells the Los Angeles Times that the sale price was around $60 million.
Authentic has a variety of reality and documentary shows currently on Bravo, Food Network, Sundance, Discovery, TLC and Animal Planet.
Full press release is below:
ENDEMOL ACQUIRES AUTHENTIC ENTERTAINMENT
· Global production company acquires majority share of Authentic Entertainment, a leading US producer of factual, reality and documentary television programming
· The acquisition, which is in line with Endemol's growth strategy, represents another significant addition to the group’s global network and will further build the company’s business with the US cable networks
· Authentic Entertainment produces such hit series as Ace of Cakes, Flipping Out!, Toddlers & Tiaras and The Best Thing I Ever Ate
Endemol, a world leader in multi-platform entertainment programming, today announced the acquisition of a majority share of Authentic Entertainment in the USA.
Headquartered in Los Angeles, Authentic Entertainment is a major creator and producer of factual, reality and documentary formats and has a wide-ranging portfolio of hit shows, producing more than 200 hours of programming per year. Founded in 2000 by Lauren Lexton and Tom Rogan, the company has rapidly grown to become a leader in non-scripted programming in the US, developing and producing series for a variety of networks including Bravo, Food Network, Sundance, Discovery, TLC and Animal Planet.
Authentic’s credits include Ace of Cakes, Flipping Out!, My First Home, The Best Thing I Ever Ateand Toddlers and Tiaras. The company has also produced numerous award-winning specials, including The 750 Pound Man, My Husband’s Three Wives, Help I’m a Hoarder!and Incredibly Small: Kenadie’s Story.Authentic has been named to Realscreen Magazine’s “Global 100” list for the last four years.
"We are proud to become a part of one of the world's most creative and successful content producers. This deal reinforces our position in the US while also giving us the global leverage that comes with belonging to the Endemol network.” Said Lauren Lexton. Tom Rogan added, “We are very much looking forward to working with the Endemol Group's extremely talented teams, both in the US and internationally, to build on the success we've achieved over the last ten years."
“Authentic Entertainment has proven itself to be an excellent developer and producer of nonscripted content, delivering hit shows to multiple networks. We have been following their growth over the last few years and were impressed by the variety and quality of their shows. This growth, and the versatility in their programming will only help to further diversify Endemol North America’s business. I would like to thank Ron Milkes, our SVP of Operations, Strategy & Corporate Development, for his key role in this transaction.” said Endemol NA Chairman David Goldberg.
Ynon Kreiz, Chairman and CEO of Endemol Group comments: "This acquisition further strengthens our presence in North America and represents another significant addition to our global network. The agreement with Authentic Entertainment in the USA is in line with Endemol's global growth strategy of combining organic growth and expansion through acquisitions. Authentic’s great portfolio of hit shows and strong creative track record will also significantly contribute to our plans for further growth in the US cable space."
The transaction with Authentic marks a further step in Endemol’s growth, which has seen the company conclude numerous acquisitions over the last 18 months. This has included Australia's largest drama producer, Southern Star; leading German drama producers Wiedemann & Berg Television, led by the producers behind the Oscar winning film, ‘The Lives of Others’; Weit Media in Russia, led by one of Russia’s most successful producers and already commissioned to produce 16 local scripted projects in 2010; and three of the UK's most successful independent production companies, Tiger Aspect, Darlow Smithson and Tigress.
Headquartered in Los Angeles, Endemol North America is one of the USA’s largest independent producers with a portfolio of hit programming including Wipeout, Extreme Makeover: Home Edition, Big Brother, Jerseylicious and Dating in the Dark. Endemol's companies in the USA also includes majority shares in leading drama and entertainment producer Original Media (Miami Ink, LA Ink, The Rachel Zoe Project, Storm Chasers) and non-scripted entertainment specialists 51 Minds (Ochocinco: The UltimateCatch, Money Hungry, Rock of Love, Brandy & Ray Jay: A Family Business). Endemol NA also incorporates leading non-fiction, reality and documentary producer True Entertainment (The Real Housewives of Atlanta, A Baby Story,Whose Wedding Is It Anyway), headquartered in New York.
CAA represents Authentic Entertainment and Evolution Media Capital advised Authentic Entertainment on the transaction.
