Like one of the adolescent characters on its popular series Ready or Not, 15-year-old Insight Productions is experiencing growing pains.

In the industry’s current consolidation-happy landscape, Insight’s strong relationships with an array of Canadian and u.s. broadcasters and its solid production track record have made it an attractive merger and acquisition target. Like many mid-sized prodcos, Insight must now decide whether it wants to accept prom date offers or remain a wallflower as a successful but medium-sized business on its own.

‘There are a lot of people talking to me right now about a lot of different things,’ says Insight principal John Brunton, who would not disclose which companies had come calling.

According to reliable sources, among the companies thought to be in discussions with Insight is newly public prodco Salter Street Films, which just raised $12 million through an ipo earmarked to ‘increase production of evergreen programming for the global market and to pursue selective acquisitions of complementary businesses.’

Salter says it is not currently in discussions with any other companies.

While producing well over 100 hours of television last year, including specials for Disney/abc and cbs, Insight recently got the greenlight from Global for 13 episodes of Ready or Not followup Hockey Boys, and is developing a pilot for ctv titled Perfect Control, created by David Barlow (Nothing Too Good For a Cowboy) and Brenda Greenberg (Street Legal).

Insight’s relationship with ctv is further strengthened by the fact that it produces Open Mike With Mike Bullard for both ctv and The Comedy Network. Insight is expected to take a lead role in the day-to-day operations of the Masonic Temple, which ctv recently bought.

While Insight lacks an internal distribution arm, starting its own distribution operation is a possibility, says Brunton. Suddenly in play are the international rights to the 65 episodes of Ready or Not, which were being handled by the defunct Accolade Releasing (Paragon).

‘The last two seasons of Ready or Not are unexploited,’ says Brunton of the teen series which ran on Global in Canada and on Showtime and later Disney Channel in the u.s. ‘With Paragon’s problems, they were not focusing their efforts on selling my series so there’s a good deal of opportunity left.’

While a buyout or merger by a broadcaster or fellow prodco would give Insight the added capital to develop and produce more projects, Brunton points out there are alternative ways to secure financing such as private offerings or deals. ‘If you’ve got a good script, you can raise $60 million from a u.s. studio, and still own the movie,’ he says.

And with the recent purchase of a broadcast-quality Avid editing system and a mobile air-pack system, Insight may be content to politely refuse offers. Of course Insight could follow the lead of many of its counterparts and gear up for a public offering of its own, although Brunton seems uncertain about that scenario.

‘Our reason for being is to make movies and tv shows, not to be driven by the demands of increasing the stock price every quarter,’ says Brunton. ‘That goes against the idea of show business in many ways.’