NBC Universal to buy Carnival
- Published: 20 August 2008 11:20
- Author: Chris Curtis
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- Last Updated: 20 August 2008 17:51
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NBC Universal is to buy drama specialist Carnival Films in its first acquisition of a UK indie.
Market sources put the deal at around £25m to £30m and the Harley Street and Hotel Babylon producer is expected to be the first of a series of mid-sized indies acquired by NBCU.
The US giant is understood to be keen to build a portfolio of producers akin to the All3Media model, and is also thought to be eyeing European production companies. It will want to exploit Carnival's drama formats internationally.
Australian producer and distributor Southern Star owns around 75% of Carnival, with managing director Gareth Neame owning the remaining stake.
The indie has been up for sale for some time and the likes of ITV and BBC Worldwide are thought to have run the rule over the company. Broadcast revealed in March that NBCU had set its sights on the UK production community.
Carnival was founded by Brian Eastman in 1978. Neame joined in early 2005 when Eastman sold his controlling stake to Southern Star. Sally Woodward Gentle joined as creative director in March 2007.
Carnival's advisors on the deal included Bryan Cave for Southern Star and Rosenblat for Gareth Neame, with Grant Thornton handling corporate finance. Law firm Ashurst advised NBCU.
The indie's recent credits include The Whistleblowers, Midnight Man and the forthcoming Whitechapel, all for ITV1.
