Shine gains Kudos in £35m buyout

Shine has completed its acquisition of Life on Marsindie Kudos Film and Television for around £35m.

Shine has completed its acquisition of Life on Marsindie Kudos Film and Television for around £35m.

The deal, revealed in Broadcast (15 December) will see Kudos continue to operate independently under its existing name. Joint managing directors Stephen Garrett and Jane Featherstone, who between them are understood to have pocketed over £20m, will join the Shine board.

Commercial director Daniel Isaacs and director of drama Simon Crawford are also tied in contractually.

Shine chief executive Elisabeth Murdoch called Kudos the 'finest independent in its field'. She said: 'The team has created peerless high-concept drama. I believe we have a complementary creative culture at Shine and I look forward to realising our ambitions together.'

Kudos joint MD Stephen Garrett said he was confident the deal was 'the right fit to take Kudos forward to the next stage', and his partner Jane Featherstone said it was 'great to have found a partner who shares our vision'.

The acquisition is one of three that Shine, 15% owned by Sony Pictures Television International, has been negotiating. Shine is also understood to be paying just under £20m for Princess and £10m for Firefly.

Murdoch is expected to conclude the remaining two deals by the end of January as part of a strategy to create what one source described as a 'powerful group of specialist businesses'.

Kudos was courted by a long-line of interested suitors, understood to include the RDF Media Group, All3Media and Test the Nation-creator Eyeworks. It was advised by Long Acre Partners.