ITV acquires US indie Gurney Productions

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ITV has acquired Gurney Productions, a US indie specialising in factual entertainment and reality programmes. The broadcaster is set to pay $40million (£24.5million) for a 61.5% stake in the company, with the option to buy the remaining 38.5% of the company from 3 years after the initial deal and at the end of year 5.  

Founded in 2005, the company was set up by Scott and Deirdre Gurney, and has produced shows for ESPN, Discovery and Animal Planet. Duck Dynasty, a reality series for the cable network A&E and part of Gurney’s portfolio, is one of the most popular cable shows in the US.

Adam Crozier, Chief Executive of ITV plc, said: “Growing ITV Studios is a key part of our strategy to rebalance the Group. Our studios business is already showing strong organic growth and the acquisition of Gurney is an important step forward as we continue to expand our international production capability.

“We see the US as a key creative market and having a sizeable presence there is central to the expansion of our global content business. ITV Studios America has been growing revenues at around 20% for the last two years under the leadership of Paul Buccieri.  Gurney is a great company with terrific programme brands, which will add scale to our already successful US business.”

The buy comes after the broadcaster acquired Finnish producer Tarinatalo in October, and Graham Norton’s indie So Television in August 2012.