All3Media buys production house behind Peep Show

by Ben Bold, Brand Republic 16-Aug-07, 09:15

LONDON - All3Media Group has acquired Objective Productions, the company behind David Mitchell and Robert Webb's 'Peep Show', for as much as £50m.

The deal was finalised yesterday afternoon following three months of negotiations. Although the companies have refused to confirm the value of the deal, media analysts estimate it is between £40m and £50m.

As well as 'Peep Show', Objective has produced Channel 4 shows for magician and hypnotist Derren Brown. It is also the company responsible for the ubiquitous "greatest" lists shows such '50 Greatest TV Comedy Moments', which litter Channel 4's schedule.

This is the 12th acquisition by All3Media since it was founded in 2003 by former Granada executives Steve Morrison, David Liddiment and Jules Burns. The trio, to which the firm's name refers, received financial backing for the buy-in from private equity house Bridgepoint.

All3Media was sold last summer to private equity firm Permira for £320m, in partnership with the management. The money enabled All3Media to this year buy Maverick TV and Germany's biggest independent production firm, MME Movement.

Other companies it has bought include management firm ARG, Cactus TV, Lion TV and Lime Pictures.