) I guess the next on will be Poland then...
Post by RegisFan on Dec 2, 2006 12:49:47 GMT -5
From WorldScreen News: 2waytraffic has agreed to acquire the Who Wants To Be A Millionaire? property, along with Celador International’s remaining format library, for £106 million ($209.2 million).
The deal will see the Dutch company acquiring the entire issued share capital of Complete Communications Corporation Limited (CCCL), Knight Whitehill Productions Limited and The River Studio Limited. The acquisition is being financed by a £60 million term loan facility from Royal Bank of Scotland, £10 million of the company’s existing cash resources, £6 million of consideration shares and a £38 million share placement fully underwritten by Investec.
The acquisition gives 2waytraffic the rights to the worldwide game show hit, as well as about 30 formats in the Celador catalogue, including You Are What You Eat and Brainiest.
Chris Pye, the chairman of 2waytraffic, commented, “This is a transformational deal that will see us acquire Who Wants To Be a Millionaire?, one of the most popular and sustainable prime-time game shows in history, as well as a number of other well known formats. 2waytraffic has grown significantly since it was formed just three years ago and this acquisition will see further expansion of 2waytraffic’s format library and geographical reach.”
Kees Abrahams, the company’s chief executive, added, “The acquisition is a major step forward for 2waytraffic. As part of the enlarged group we are confident that Who Wants To Be a Millionaire? and the other successful formats we are acquiring will benefit from our interactive expertise at a time when technology is allowing producers to develop formats with increased interactivity in TV, mobile and digital. The proposed acquisition is entirely consistent with the strategy we set out at the time of our IPO. We are in no doubt that these formats are a perfect fit for 2waytraffic and we are well placed to become a major international player in the roll out of interactive content.”
Celador founder Paul Smith added, “When we were seeking a buyer for Who Wants To Be A Millionaire? and Celador International, our considerations were not purely financial. Millionaire is very much our baby, so it was a matter of who would best look after it, share our philosophy and believe in it as passionately as we do. I am confident that company is 2waytraffic. They are a vibrant and ambitious organization with a vision for the show that incorporates the growing demand for interactive content.”
Celador put Millionaire? on the auction block in March. 2way traffic entered into exclusive negotiations with the company at the end of July, just two weeks after acquiring the Dutch format outfit Intellygents, creators of "That's the Question," which was taken off of GSN's schedule this week.
Under the terms of the deal, CCCL Chairman, Paul Smith, will assume the role of executive producer of the UK version of Who Wants To Be A Millionaire? and consultant to 2waytraffic. Smith is listed as an executive producer of the US version.
The deal will see the Dutch company acquiring the entire issued share capital of Complete Communications Corporation Limited (CCCL), Knight Whitehill Productions Limited and The River Studio Limited. The acquisition is being financed by a £60 million term loan facility from Royal Bank of Scotland, £10 million of the company’s existing cash resources, £6 million of consideration shares and a £38 million share placement fully underwritten by Investec.
The acquisition gives 2waytraffic the rights to the worldwide game show hit, as well as about 30 formats in the Celador catalogue, including You Are What You Eat and Brainiest.
Chris Pye, the chairman of 2waytraffic, commented, “This is a transformational deal that will see us acquire Who Wants To Be a Millionaire?, one of the most popular and sustainable prime-time game shows in history, as well as a number of other well known formats. 2waytraffic has grown significantly since it was formed just three years ago and this acquisition will see further expansion of 2waytraffic’s format library and geographical reach.”
Kees Abrahams, the company’s chief executive, added, “The acquisition is a major step forward for 2waytraffic. As part of the enlarged group we are confident that Who Wants To Be a Millionaire? and the other successful formats we are acquiring will benefit from our interactive expertise at a time when technology is allowing producers to develop formats with increased interactivity in TV, mobile and digital. The proposed acquisition is entirely consistent with the strategy we set out at the time of our IPO. We are in no doubt that these formats are a perfect fit for 2waytraffic and we are well placed to become a major international player in the roll out of interactive content.”
Celador founder Paul Smith added, “When we were seeking a buyer for Who Wants To Be A Millionaire? and Celador International, our considerations were not purely financial. Millionaire is very much our baby, so it was a matter of who would best look after it, share our philosophy and believe in it as passionately as we do. I am confident that company is 2waytraffic. They are a vibrant and ambitious organization with a vision for the show that incorporates the growing demand for interactive content.”
Celador put Millionaire? on the auction block in March. 2way traffic entered into exclusive negotiations with the company at the end of July, just two weeks after acquiring the Dutch format outfit Intellygents, creators of "That's the Question," which was taken off of GSN's schedule this week.
Under the terms of the deal, CCCL Chairman, Paul Smith, will assume the role of executive producer of the UK version of Who Wants To Be A Millionaire? and consultant to 2waytraffic. Smith is listed as an executive producer of the US version.
