Consortium to acquire Question Time producer Tinopolis for £44.7m

by Jacquie Bowser Brand Republic 09-May-08, 11:10

LONDON - TV production company Tinopolis, producer of the BBC's 'Question Time', is to be bought by Red Dragon Acquisitions.

Tinopolis, headquartered in Llanelli in Wales, has agreed on a recommended cash offer of 45p a share by Red Dragon, an investment vehicle set up by private equity firm Vitruvian Partners.

The acquisition values the company at about £44.7m and represents a 32.4% premium on Tinopolis' 34p closing price yesterday.

The executive management of Tinopolis will remain in place to operate the company after the takeover.

Ron Jones, chairman of Tinopolis, said: "In Vitruvian, we have found the right partner for the next stage in this company's development.

"There are many opportunities out there and my entire team is enthusiastic about the future and what this partnership can achieve."

Earlier this year, Tinopolis reported a 142% jump in full-year pre-tax profits to £2.56m and a 40% increase in turnover to £66.0m for the year ending September 2007.

The company owns Mentorn, which produces 'Question Time', and Sunset+Vine Production, which supplies sports programming to broadcasters including horseracing output for the BBC and Major League Baseball and NHL to Five.

It acquired Mentorm and Sunset+Vine through a £36.4m takeover of Television Corporation in 2005.

Tinopolis' also owns production company Folio, which produces shows such as 'Traffic Cops' 'OAPs on ASBOs' and 'Car Wars'.