UK television production company Shed Media is to be acquired by Warner Bros for £99.9 million.

UK television production company Shed Media is to be acquired by Warner Bros for £99.9 million.

The acquisition is to be made through Bidco, a newly formed company created at the direction of Warner Bros and the senior management team at Shed. The deal is to be financed by Warner Bros’ existing debt facilities.

London-based Shed Media produces television programmes including Footballers’ Wives and Bad Girls. In 2009 the AIM-listed company declared pre-tax profits of £12.3 million on turnover of £92.6 million.

Bidco director Ronald Goes says: ‘The acquisition of Shed provides Warner Bros Television Group with immediate scale in UK production and complements our existing television production and distribution businesses.’

Shed retains control of the programme rights for its productions and generates revenue from these brands through Outright, its wholly owned distribution company.

Nicholas Southgate, CEO of Shed, comments: ‘In Warner Bros Television Group we have found the right partner to support Shed’s development and future growth strategy.’

Warner Bros Entertainment is an international media company and is a part of the Time Warner group. In 2009 Time Warner declared revenues of around $25.8 billion (£16.2 billion).