Broadcast News

Bookmark and Share

Teddington Studios & SBS acquired for £2.7m

Teddington Studios Limited, which had been placed in administration, and the entire share capital of The Studio Broadcasting Company Limited (SBC) have been acquired by Pinewood Shepperton plc for £2.7 million.
Well known as the former studios of Thames Television, Teddington Studios facilities were recently utilised by shows such as 'The Office', 'My Hero' and 'Harry Hill'.
Although SBC has not traded to date the company owns "certain assets" relevant to the operation of Teddington Studios, and will provide channel hosting services to several satellite and cable channels within the studios of Teddington.
Pinewood Shepperton has acquired the assets, staff and name of Teddington Studios, as well as assuming the lease of the Teddington Studios site and liabilities for a total cost of £2.6 million, while SBC has been acquired for a further cost of £0.1 million.
Ivan Dunleavy, Chief Executive of Pinewood Shepperton plc, said: "This is an exciting opportunity for Pinewood Shepperton and is in line with our long term strategy to diversify our revenue streams in our integrated media businesses.
"Teddington Studios and SBC, combined with our existing business in television and sound services, significantly enhances our presence in the marketplace. We will be working closely with the management of Teddington Studios and SBC to maximise the benefit of our enlarged television and sound services activities."
Following the announcement acquisition of the business and assets of Teddington Studios Limited by Pinewood Shepperton Plc, Nick O’Reilly, Joint Administrator and Partner in Numerica Business Recovery Group commented: “We were appointed to assist Teddington Studios in achieving the best solution for all stakeholders.
"We are pleased that the business has been sold to Pinewood Shepperton as a going concern so that the studios will continue to be used for recordings. This is an excellent example of the new Administration laws being used to rescue a business in financial difficulties”.
The acquisitions by Shepperton Pinewood include fixed assets of £1.8 million, of which £1.2 million are subject to finance leases. In addition, it is anticipated that Pinewood Shepperton will incur reorganisation and transaction costs of approximately £1.3 million that are expected to be set down in 2005 as an exceptional item.
The consideration for the acquisitions will be funded from Pinewood Shepperton's existing bank facilities.
The unaudited net assets of Teddington Studios Limited for the year ended 30th April 2004 are valued at £1.6 million a figure that includes the assets now owned by SBC. Turnover was £8.3 million with an operating loss of £9,000.
However, the turnover included contracts valued at approximately £2.5 million which have not been renewed.
The acquisition is a natural extension to Pinewood Shepperton's current television and sound services business, and the company declared that they intend to apply their "existing business model" to the acquisition.

Top Related Stories
Click here for the latest broadcast news stories.

Shepperton Studios Expansion In Surrey Now Open
The expansion at Shepperton Studios in Surrey is now open and Amazon MGM Studios and Netflix are in occupation. The state-of-the-art development will
EUROPE’S two leading film and television studios, Pinewood and Shepperton, have announced their merger, valuing the combined business at more than £10
BBC Studios And Post Production Confirms Interim Moves To Elstree Studios
BBC Studios and Post Production, a commercial subsidiary of the BBC providing world-class television studios, post production and digital media servic
Roger Morris Appointed Managing Director of Elstree Studios
Roger Morris has been appointed Managing Director of Elstree Studios. Roger Morris has been in the film and TV industry for over 20 years and has a we
Shepperton Studios Launches £500,000 Community Fund
Shepperton Studios has launched a £500,000 community fund to support local individuals, non-profit and voluntary organisations including charities, so
Final Screening Delivered At Last ABC Cinema 

The final screening of Back to the Future has been shown in the last remaining ABC (Associated British Cinemas) cinema in Bournemouth, UK, ahead of it
Pinewood Acquires Aviva Stake In SSPP
Pinewood Shepperton has acquired 50% interest in the Shepperton Studios Property Partnership (SSPP) formerly owned by clients of Aviva Investors. The
Strength To Strength – The Story Of Elstree
Star Wars. Indiana Jones. The Shining. Hitchcock. Elstree Studios is an iconic studio. But where did it all start? The studio was established in 1926
Katara Studios Upgrades Studios
Now that many creative studios have adopted 4K as the production and post standard, demand for 8K support across global creative pipelines is on the u
BBC Studios And MBC STUDIOS Announce New Scripted Format Agreement
BBC Studios and MBC STUDIOS, the in-house premium content production arm of MBC GROUP, the largest and leading media company in the Middle East and No
Sky Studios Partners With DBK Studios
Sky Studios and DBK Studios are partnering for a series of short films to air on Sky Arts that nurture talent from Black and other diverse backgrounds
Aquarium Studios Announces Expansion And Refurbishment of Worldwide Studios
Audio post-production company Aquarium, has announced that it has completed the refurbishment of part of the legendary Worldwide Studios to provide th
New Stereoscopic 3D technology Showcased At Shepperton Studios
Individual workshops demonstrating the new generation of Stereoscopic 3D are taking place at Shepperton Studios on 25 & 26 January 2008. Hailed by mov
Munro installs two mixing theatres at Shepperton Studios
UK studio design consultancy Munro Associates have completed the design and installation of two more film mixing theatres at Shepperton Film Studios i
SHEPPERTON Studios, a European film facility which has been fully online for five months, now houses one of the industries most comprehensive Pro Tool