Search Share Prices
Entertainment One buys controlling stake in Whizz Kid for £6.9m
Entertainment One, which owns the rights to Peppa Pig, has bought a 70% controlling stake in UK-based non-scripted television production company Whizz Kid for £6.9m.
Founded in 2006 by Malcolm Gerrie, Whizz Kid has delivered multiple hit shows including nine seasons of Ex on the Beach and Lip Sync Battle UK, and has long-standing relationships with key UK broadcasters including the BBC, Sky, Channel 4, ITV and Channel 5.
In its audited financial statements for the year ended 31 March 2017, Whizz Kid reported revenues of £14.2m, pre-tax profit of £3.3m and gross assets of £6.3m, while adjusted earnings before interest, tax, depreciation and amortisation amounted to £1.6m.
Malcolm Gerrie and Lisa Chapman will continue to lead Whizz Kid and, as part of the transaction, have entered into new, long-term employment agreements. In addition, Entertainment One has entered into a distribution agreement with Whizz Kid, which will provide the group with access to high quality, non-scripted programming and formats for exploitation globally.
Entertainment One has purchased the stake from Ingenious Capital Management, Malcolm Gerrie, Lisa Chapman, Katherine Allen, Lisa McCormack, Terence Back, Tracey Lloyd, Shane Murray and Caroline Roseman.
Chief executive officer Darren Throop said: "The addition of Whizz Kid to eOne's non-scripted television business gives us a strong footing in one of the most creative markets in the world. I'm pleased to welcome Malcolm, Lisa and the Whizz Kid team to the group, and I'm excited about how this new relationship will deliver great new series on both sides of the Atlantic."
At 0910 BST, the shares were up 0.5% to 278.30p.