All3Media moves into Germany

Super-indie All3Media is making its first move towards becoming a major international company by acquiring one of Germany's biggest indies.

Super-indie All3Media is making its first move towards becoming a major international company by acquiring one of Germany's biggest indies.

The company has signed a binding agreement with MME Moviement's management and supervisory board, who hold 42% of the shares, and All3Media will make a public offer at Eu7 (£4.70) per share for the rest of the company. The deal values MME Moviement at £52.7m and the company is expected to recommend the offer to its shareholders.

MME Moviement produces music formats such as The Domeas well as drama and factual output. It made a German version of the BBC's Great Britons called Unsere Besten and is the largest supplier of daytime strands in Germany.

All3Media chief executive Steve Morrison said: 'Our feeling is that we should scale up from being a largely UK-based company with international reach to becoming more of an international company.'

Germany has been targeted because of its 'great appetite' for British formats, said Morrison.

 All3's Company Pictures has just been appointed to executive produce US network HBO's next major drama, Generation Kill, about US marines in Iraq.