Shed Media, the TV production company founded by former Scottish Television executive, Eileen Gallagher, is set to be taken over in a deal worth an estimated £100 million.
US media giant, Time Warner, is to buy a controlling stake in the UK indie, which is behind shows such as Who Do You Think You Are?, Supernanny and Waterloo Road.
The move will see Shed investors receive 115p for each share they hold, taking the total value of the company to £99.9 million.
Under the terms of the takeover, Shed’s management team, which includes Gallagher, would lower their 55.4 per cent stake to 21.37 per cent, with the remaining shares split between key members of staff.
In a statement issued this morning to the London Stock Exchange, Nicholas Southgate, CEO of Shed, said on behalf of the senior management team: “In Warner Bros. Television Group we have found the right partner to support Shed's development and future growth strategy.
“It has an unrivalled reputation both creatively and in international distribution and my management team are excited about being in the vanguard of the Warner Bros. Entertainment Inc. initiative to build on its international production network.”
Added Heather Rabbatts, the independent chairman of Shed: “Warner Bros. Television Group is a globally renowned entertainment business and will provide the Shed Group with the platform from which to support and deliver its growth plans.”