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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Time Warner Inc. New | NYSE:TWX | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 98.91 | 0.00 | 01:00:00 |
By Michael Calia
Warner Bros. Television Group on Tuesday said it agreed to buy all of Eyeworks Group's businesses outside the U.S. in a bid to expand its global footprint.
Eyeworks, a Dutch independent television production and distribution company founded in 2001, produces content that airs in more than 150 countries, according to Warner Bros. Its programming includes such titles as "Who Wants to Marry My Son?" and "Reality Queens of the Jungle."
The move--which covers businesses in 15 countries across Europe, South America, Australia and New Zealand--adds 13 new territories to Warner Bros.' network of production companies.
Warner Bros. said it would use the deal to establish local production companies worldwide, "each with a mandate to develop original local programming and adapt the output from the studio."
The Eyeworks deal marks continued expansion for the Warner Bros. television operation. Previously, it had acquired the U.K.'s Shed Media in 2010 and the Dutch and Belgian operations of BlazHoffski in 2011.
Eyeworks Group founder and Chief Executive Reinout Oerlemans will resign as CEO once the deal is finished, and will move to Los Angeles to serve as chairman of Eyeworks USA. Eyeworks USA will remain independent, according to the companies.
Write to Michael Calia at michael.calia@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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