LONDON (Alliance News) - STV Group PLC Monday said television programme business STV Production has signed a strategic partnership deal with Red Arrow Entertainment including co-investments, co-development, and worldwide distribution for programming.
It didn't give any financial details, but said the deal will run for several years and involves investment from both companies as they work together on creating new formats for UK and international TV.
Any new programmes will be co-produced, piloted on STV's Scottish TV channel, and, if successful, taken to the international market.
Munich-based Red Arrow International will become STV Productions' worldwide distributors for completed programmes and formats outside the UK from the start of next year, it added.
STV will continue its format deal with US production company Kinetic Content, part of Red Arrow Entertainment. The two have an exclusive agreement to license each other's original formats in their respective countries.
STV Group shares last traded at 256 pence.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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