Belfast Telegraph

ITV buys firm behind Posh Pawn

By Roger Baird

Broadcaster ITV has agreed to buy the firm behind Posh Pawn and The Hotel Inspector as it continues to snap up production companies.

ITV will acquire a 75% stake in Boom Supervisory, which owns Twofour and a number of other production outfits, for £55m initially.

The broadcaster bought the group from majority shareholder LDC, the private equity arm of Lloyds Banking Group.

ITV has been reshaping its business to minimise exposure to volatility in advertising markets by boosting spending on original content, buying up production companies to help produce programmes it can sell around the globe. US firm Liberty Global - a 6.4% shareholder in ITV - is in talks to acquire Irish station TV3.

Belfast Telegraph