The deal will see the two companies retain their own brands, but Rights.tv will relocate from Yorkshire to Compact’s London offices. According to a Compact statement, Rights.tv offers a complementary service to Compact’s core activities.

Founded by Andrew Baker in 1994 and based in London and Yorkshire, Rights.tv provides business services to the film and television industry, offering production advice from creation and development through to financing, distribution and exploitation of TV rights. Baker will remain managing director of the division following the acquisition.

Lyceum backed the management buy-out of Compact Media, which was led by chief executive John O’Sullivan, in October last year. The firm acquired a £17 million majority stake that was previously held by the founding shareholders.

Lyceum’s investment will fund Rights.tv’s growth strategy, and the firm continues to look for further acquisitions and partnerships to increase the number of services it can offer to the media industry.

Compact chairman Richard Green comments, ‘Rights.tv constitutes an excellent strategic fit, allowing Compact to offer its client base access to further specialist services. Andrew Baker is highly regarded within the media market and we look forward to working alongside him.’

Chief executive John O’Sullivan adds, ‘As companies become more streamlined and agile in order to grow into new markets, they require service providers that can be elastic to their changing needs. Rights.tv has a strong track record of providing top business affairs advice for some of the industry’s finest broadcasters, production companies and talent agencies.’

Compact offers a range of collection and administration services to the creative industries. Last year, the company increased its Q4 collections on behalf of its clients by 11 per cent, with nearly 20 per cent growth year-on-year. Recent signings include Shine Australia PTY, Icon Films, Keo Films, Dragonfly Film & Television Productions and Zodiak Rights.