Dan Sabbagh
Win 100 iconic DVDs
NBC Universal, the US media group owned by General Electric, has bought the British television production company behind Hotel Babylon and Harley Street in a £30 million deal aimed at bringing high-end UK drama to the US.
The American Olympic broadcaster said it was looking to further increase its production business internationally but ruled out a move on ITV or All3Media, the independent producer, as it tries to double the size of its non-US business by 2010.
Angelea Bromstad, president of international television production, said that NBC Universal "no longer wants to be a passive company that only waits for ideas to come to the US" and said that the network was also attracted by the lower developments costs in Britain.
Its target is Carnival Films, which specialises in high end drama. It makes the popular Hotel Babylon for the BBC and is currently airing the less succesful Harley Street medical show on ITV1. It also has titles such as Jeeves and Wooster as well as Rosemary and Thyme in its library.
NBC refused to disclose the exact sum paid, but Southern Cross, a production company now owned by Australia's John Fairfax, said it would receive £22.5 million for its 75 per cent stake in Carnival. Gareth Neame, chief executive, owns the rest of Carnival, valued at £7.5 million, although it is not clear if he received that much in cash with incentive schemes tying into the business.
Pete Smith, president, NBC Universal international, said that the company was looking at expanding in television production Russia and India and added "I don't think we are done in the UK either". However, dismissed speculation about some of the targets the company had been linked with.
"To date, Jeff Zucker [the chief executive of NBC Universal] has not expressed an interest in going for ITV," Mr Smith said, adding that production firm All3Media, which is owned by Permira, "was not in short term consideration".
However, he did add that NBC Universal would "take a look at" the television channels owned by Virgin Media, if they became available. NBC Universal is thought to have eyed Virgin Media's half share in UK TV, a joint venture with the BBC.
So far, the company's most visible move in the UK has been to buy up the company behind The Hallmark Channel, for £175 million, co-owned by Providence Equity and 3i, although it has been growing abroad by pushing its Sci Fi channel around the world.
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
Shortcuts to help you find sections and articles
36-month car lease
on contract hire for
£359.99 plus VAT pm
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
The UK's leading alternative to showroom finance.
Finance packages tailored to your needs.
Minimum loan of £15,000
Car Insurance
c£100,000 + car, bonus & bens
Lord Search & Selection
Midlands
Competitive salary + NHS pens
The Council for Healthcare Regulatory Excellence (CHRE)
London
Not Specified
The Sheppard Trust
London
£31,842 – £38,378pa
Charity Commision
London, Liverpool or Taunton
Moments from Battersea Park.
For sale with Winkworth.
See your free Experian credit report beforehand
Book now & save over £100pp.
11 cool resorts, lowest prices... Early Booking offers 15 Nov.
20% off selected Azores holidays taken in October with Sunvil Discovery
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.