Kew Media acquires U.K. distributor TCB Media Rights

The purchase of the unscripted distribution firm is Kew's first since it closed its acquisition of five Canadian prodcos in March.
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Kew Media is adding to its unscripted arsenal with the acquisition of London, U.K.-based distribution company TCB Media Rights.

Headed up by CEO Paul Heaney, TCB specializes in distribution of unscripted content (in genres including history, reality, crime, lifestyle and science) into international markets. Confessions of a Serial Killer (for CBS Reality), Elizabeth (Channel 5) and World’s Wildest Weather (Sky NZ) are among the projects that it distributes internationally. The announcement comes less than a week prior to MIPCOM, where TCB was first launched as a new company in 2012.

Kew will pay GBP £5.6 million (approximately CAD $9.23 million) and GBP £0.7 million in Class B Kew Media shares. In addition, Kew said TCB may receive an earn-out of up to £4 million if it meets revenue targets.

The purchase is Kew’s first since it announced it would buy Canadian prodcos Bristow Global Media (BGM), Architect Films, Frantic Films, Media Headquarters Film and TV and Our House Media, as well as London- and L.A.-based film and TV distribution company Content Media Corporation (CMC) in February. The transaction was approved by the company’s shareholders in March.

“With its dynamic slate of factual entertainment titles, TCB significantly increases Kew Media’s ability to broaden its distribution activity in the non-scripted arena and, even more importantly, aligns Kew’s distribution capacity with the content generation of many of its production companies,” the company’s statement reads, adding that TCB will operate independently of Kew’s other distribution company CMC (which was recently rebranded to operate as Kew’s primary distribution arm).

TCB has room to grow without significant outlay in overhead, Kew noted in its statement, and is expected to generate about £11.5 million in revenue and £1.0 million or higher of adjusted EBITDA for fiscal 2017.

In August, CEO Steven Silver reiterated that about 20 additional companies are currently under non-disclosure agreements with Kew. At the time, Silver said Kew was looking at scripted-focused prodcos and talent management companies as potential acquisition targets.

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