STV acquires majority stake in Primal Media
STV has acquired a majority stake in unscripted producer Primal Media.
The company said the move would help realise its vision for STV Productions to build a world class production business, based in Scotland, that takes full advantage of growing local and global demand for high-quality content.
Primal Media, founded in 2016 by Mat Steiner and Adam Wood, has created programmes including RTS award-winning Release The Hounds (ITV2), Rose d’Or-winning Bigheads (ITV) and Carnage (Sky One).
The acquisition follows a strategic partnership announced by STV and Primal Media in February.
STV announced the move ahead of a planned Capital Markets Event for analysts and investors.
Simon Pitts, STV chief executive, said: “It’s a little over a year since we set out our new strategy to deliver production and digital growth and re-establish STV as a creative force in Scotland and beyond.
“With a new team fully in place we are building real momentum and delivering encouraging results.
“Programming successes like recent drama The Victim for BBC One demonstrate our growing creative strength, and the acquisition of Primal Media – whose founders have an unrivalled track record of devising hit entertainment formats – will further strengthen our creative pipeline as we seek to become one of the UK’s leading producers.
“Our digital vision is for the STV Player to become Scotland’s digital destination.
“With our Sky launch later this year we will be universally accessible across Scotland for the first time, offering a fantastic range of exclusive, live and on demand content from STV and a range of other broadcasters, on a free or subscription basis.”
STV acquired its majority stake in Primal Media from the previous majority investor, Lionsgate.
STV Productions also announced the recommission of six-part series Inside Central Station for BBC Scotland, which will go into production later this year.
Further recommissions were Antiques Road Trip (series 19 and 20), Celebrity Antiques Road Trip (series 9), and Celebrity Catchphrase for ITV.