ITV buys £1m stake in independent producer

LONDON - ITV's Granada International has bought a 25% stake in independent production company Mammoth Screen for a cash consideration of £1m.

The deal will give Granada worldwide distribution rights to all programmes developed and/or produced by Mammoth.

Mammoth was set up by former ITV producer Damien Timmer, and its productions include a new version of Emily Bronte's gothic love story 'Wuthering Heights'.

Nadine Nohr, Granada International's chief executive officer, said: "We're delighted that Granada International will be working with Mammoth Screen, a new production company founded by producers with the track record and international awareness to create commercial, innovative programming. We're thrilled that they have already hit the ground running in terms of commissions and broadcaster interest with a number of truly exciting projects on their slate."

John Cresswell, ITV's chief operating officer, said: "Content is at the core of everything ITV does, and key to the full and effective exploitation of content in a digital environment is access to rights. Partnerships with talented independents like Mammoth, with proven track record and expertise, provide us with a share of rights and opportunity to drive and boost creativity within the independent production sector for mutual commercial benefit."

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