Finnish music and event producer take majority stake, with senior WBITVP management retaining positions
Warner Bros. International Television Production (WBITVP) has sold its operations in Finland to local event producer Akun Tehdas.
The deal, which went through earlier this year but made few international headlines, sees Akun Tehdas picking up a majority stake in WBITVP Finland, which has been behind shows ranging from local versions of Bake Off to hit drama Man in Room 301 – a BBC4 acquisition.
Financial details were not revealed but WBITVP Finland’s management team – including chief exec Antti Väisänen – remains in place. The company, as part of Akun Tehdas, continues to exclusively represent all WBITVP Group IP in Finland.
The group produces local versions of show such as The Bachelor, Supernanny, Who Do You Think You Are?, Bake Off, Doghouse and The Mole for a raft of Finnish companies.
Aku Syrjä, chief exec at Akun Tehdas, said in a statement at the time of the deal in March that the acquisition is part of a strategy to “expand the value chain” of IP.
“The media industry has been in a state of transformation for the last 20 years, and the real news is that the transformation will continue for the next 20 years. From our perspective, we have now reached a kind of hinge point, and as the classic saying goes, “in showbusiness timing is everything”, Syrjä said.
Väisänen added that digitalisation, streamer growth, platform competition and AI are creating new opportunities “but require a new kind of expertise” that the deal will allow for.
He continued: “At the same time, the value of live events is growing rapidly. Value is being created for what can only be experienced live, whether it is music, sports or other live production, and here Akun Tehdas is at the forefront of development.”
Väisänen added: “We will be able to boldly develop our business operations in the technologically advanced Finnish market and at the same time work together with the international organisation of Warner ITVP Group.”
Finland’s media landscape has been shifting rapidly over recent years, with Norwegian media company Schibsted Media striking a deal earlier this year to buy MTV from Swedish telecoms giant Telia Company.
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