Osborne Clarke has advised Barcroft Studios on its 100% acquisition by Future plc for a total consideration of £23.5 million, to be satisfied in a combination of cash and Future shares.
The deal will enable Barcroft Studios, which produces premium factual programming for streaming platforms, TV networks and social media companies, to accelerate the creation, production and distribution of their award-winning original series. Recent productions include ‘Amazing Interiors’ for Netflix, ‘The Day the Dinosaurs Died’ for BBC Two and ‘Most Incredible Homes’ for Facebook Watch.
The acquisition will also see Barcroft Studios developing and producing original TV programming and video content for Future’s portfolio of over 180 media brands, creating heightened engagement with consumers and new revenue streams. Future’s media portfolio includes iconic titles such as FourFourTwo, Total Film, T3 and GamesRadar+.
Barcroft Studios has pioneered a unique digital-to-TV incubation approach. To date, the company has established 15 original self-funded digital series, including ‘Extreme Love’, ‘Born Different’ and ‘Beastly’, which have attracted over 63 million followers across social video platforms including YouTube, Snapchat and Facebook. Many of these brands have subsequently been adapted as TV shows for broadcast networks and VOD platforms, with more to follow in 2020.
Future plc is a British media company founded in 1985. It publishes more than 50 magazines in fields such as video games, technology, films, music, photography, home and knowledge.
The Osborne Clarke team was led by Associate Director Ken Wilkinson, with assistance from Partner Mathias Loertscher (Picture) and Associates Josephine Healy and Katie Tait.
Law Firms: Osborne Clarke;
Clients: Barcroft Studios;