Digital Rights Group Limited Sold to Modern Times Group

UK-based Digital Rights Group Limited, a TV rights distribution group, has been sold to Modern Times Group, an international entertainment broadcasting group. Ingenious Corporate Finance, an independent advisor in the media, entertainment and technology sectors, has advised the shareholders of Digital Rights Group Limited.

PRESS RELEASE

Ingenious Corporate Finance, the leading independent advisor in the media, entertainment and technology sectors, has advised the shareholders of Digital Rights Group Limited (“DRG”), the UK’s leading independent TV rights distribution group, on the sale of the business. The business has been sold to Modern Times Group (“MTG”), the international entertainment broadcasting group, for total consideration of £15 million.

The transaction represents the fifteenth completed deal that Ingenious has advised on within the UK independent TV production and distribution sectors, with a combined value of c. £600m. Across the wider entertainment industry, Ingenious has completed over 20 transactions underpinning its position as the pre-eminent advisor in the sector.

As the UK’s leading independent TV rights distribution group, DRG provides TV producers with international distribution for their rights and programmes, independent of the major broadcasters or other TV producer-owned distributors. DRG operates across multi-genres, with a focus on high-quality programming, with titles including Doc Martin, The Inbetweeners (PIC ATTACHED), Singing Bee, Kingdom, Sea Patrol and Criminal Justice. For the year ended 31 March 2013, DRG reported EBITDA of £1.6 million on sales of £23.4 million.

MTG is an international entertainment broadcasting group with operations that span four continents and include free-TV, pay-TV, radio and content production businesses.

Prior to the sale to MTG, Ingenious Media Active Capital Limited (“IMAC”) was the majority shareholder of DRG and Patrick Bradley, Chief Executive of Ingenious Ventures, the manager of IMAC, commented:

“With IMAC’s support, DRG has grown, both organically and through acquisition, into a leading one-stop shop for the development, funding and distribution of television rights and we are delighted with this transaction which generates a substantial return for IMAC shareholders. Ingenious Corporate Finance played a critical role in structuring, negotiating and successfully closing this transaction.”

Chris Graves, a Director in Ingenious’ Corporate Finance division, said:

“DRG is a highly strategic asset in the global TV content market and a strongly performing business in its own right. We were able to generate significant interest from a range of buyers, and believe that the sale to MTG is a good result for all stakeholders.”

Chris Graves, Director, Laura Maddison, Associate Director and Charlotte Wilkerson, Associate advised on the transaction for Ingenious Corporate Finance.

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For further information please contact:
Chris Graves, Director +44 (0)20 7319 4156
Laura Maddison, Associate Director +44 (0)20 7319 4161
Charlotte Wilkerson, Associate +44 (0)20 7319 4158

NOTES TO EDITORS:

About Ingenious

Ingenious Corporate Finance provides comprehensive advice on strategy across a wide range of transactions focusing particularly on the media, entertainment, technology and communications sectors.

Ingenious is a market-leading financial services group providing investment and advisory expertise operating through four divisions. Ingenious is one of the leading investors in the UK’s creative industries and was founded by its Chief Executive, Patrick McKenna in 1998.