ITV Studios U.S. Group becomes largest independent unscripted producer in the United States
ITV Studios has agreed to acquire a controlling stake in Leftfield Entertainment Group in a deal that makes ITV Studios U.S. Group the largest independent unscripted producer in the United States.
The acquisition of Leftfield Entertainment follows ITV's acquisition in the last 18 months of Gurney Productions, High Noon Entertainment, Thinkfactory Media and Diga Vision in the US as well as UK producers So Television, The Garden and Big Talk.
ITV will make an initial cash payment of $360m for 80 percent of Leftfield, with further potential payments dependent upon Leftfield's continued profit growth. ITV has options in place for the remaining 20 percent.
Leftfield Entertainment Group was created when Leftfield Pictures acquired Sirens Media last March. Two joint ventures — Loud Television and Outpost Entertainment — soon followed.
Leftfield Pictures sold its first series in 2008 and now produces more than 300 hours of unscripted programming a year for over 30 American networks. Its shows include “Pawn Stars,” which is History's top show worldwide.
Other Leftfield series include Sirens Media's “Real Housewives of New Jersey” on Bravo and “Counting Cars” and “American Restoration” on History.
Leftfield founder Brent Montgomery (pictured) will remain CEO, and Sirens Media, Loud Television and Outpost Entertainment will all continue to report to him.