Fremantle to battle crunch with indie acquisitions

Hole in the Wall is an FME format

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FremantleMedia chief executive Tony Cohen is looking to acquire other independent production companies to find new international formats.

Cohen said that while the economic climate had scared off most investors, it meant there were bargains to be had.

He said: "Broadcasters are becoming more and more reliant on content to differentiate themselves, and to draw in audiences. We are constantly looking for new ideas.

"We will do more acquisitions in future, and change the balance of our company.

"We will be looking to invest in some of the markets where we are not so strong to help build our reputation there, and we will also be looking for companies with great content ideas that can be transferred around the world."

Cohen pointed to the top 10 rating shows in the US and the UK – nine of which are global brands.

Cohen added that he was "prepared to pay" for ideas, and was planning to increase the amount of cash for developing more formats in house.

He also called for a review in the terms of trade agreement.

"I think they do need to be renegotiated so we all get a fair market price," he said.

"If you look at all global formats, the large portion of them started in the UK. We have a hugely successful creative industry and that should be recognised. At the end of the day, broadcasters will always choose the best content."