2 items from 2008
London -- British commercial broadcaster ITV shares may be trading around rock bottom, but it's flexing its muscle in the emerging Internet video market, announcing the acquisition of a 10% stake in Web video production studio Electric Farm Entertainment for an undisclosed sum Friday.
Acquired through its U.S. production unit, Granada America, the acquisition gives ITV a foothold in online drama content creation aimed at a youth audience in the mold of such successes as Bebo's "Kate Modern," "PromQueen" and "Quarterlife."
"I'm attracted to this company because they are specializing in scripted direct-to-Internet programming that is economically produced but creatively engaging," ITV Global Content head Lee Bartlett said. "These projects have worldwide appeal to audiences and advertisers alike, with the potential to grow on to other platforms including TV."
ITV shares rose 1.3% to 43p (85 cents) on the news. »
- By Mimi Turner
Spouses and Nanny, both Fox series, are set to debut next week, with Spouses airing Mondays, Wednesdays and Fridays at noon and 1 p.m. and with repeats at 6 and 7 p.m. It will alternate days with Nanny, which will air in the same time periods Tuesdays and Thursdays.
"We believe that the addition of these family-based reality shows to our schedule will not only engage our core fans but attract new viewers as well," CMT vp programming strategy Mary Beth Cunin said.
Twentieth president and COO Bob Cook called the shows "two of television's most memorable family-centered reality series." »
2 items from 2008
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