ITV creates new global entertainment arm

LONDON - Broadcaster ITV has today launched ITV Global Entertainment, a new global distribution arm for its television, home entertainment, publishing, consumer products and international businesses.

The new venture combines the activities of former Granada International and Granada Ventures, which until now been referred to as ITV Worldwide.

The newly named company will distribute ITV products to more than 200 countries worldwide and be led by president and managing director Peter Iacono.

It becomes part of the broadcaster's global content division, uniting all UK and international production and content businesses, and an important part of ITV's turnaround plan as it looks to double its annual revenue to £1.2bn by 2012.

The new distribution arm also has a 25% stake in producer Mammoth Screen, exclusive deals with entertainment and drama producers such as Zig Zag and Quickfire Media and other deals in place with producers in the UK, Canada and Australia.

In June, ITV Global Content sealed a deal with 20th Century Fox, which allows both companies to remake and redevelop each others' programmes for their respective home markets.

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