StockMarketWire.com - Scottish broadcaster STV Group said its productions unit had acquired a majority stake in unscripted producer Primal Media, for an undisclosed sum.

The company said the deal would enable it realise full value from Primal Media's current and future programming slate, which included comedy series 'Jerk' for BBC3 and two new programmes, both currently in production, for Channel 4.

The acquisition followed an announcement earlier this year of a strategic partnership between both companies, to co-develop formats to target UK and international networks.

Under the terms of the deal, Lionsgate, the previous majority investor in Primal Media, would retain a minority stake in the business, with the founders holding the remaining equity.


At 8:27am: [LON:STVG] STV Group PLC share price was -6p at 346p



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