6 Mar 2008 07:00
MOTIVE TELEVISION PLC ("Motive" or the "Company") Joint Venture
Motive the AIM-quoted media investment company specialising in television rights and production, announces the launch of a 50 / 50 joint venture of Rumble TV Ltd, a new independent television production company that will target the UK factual entertainment market.
Rumble TV is being created by Visual Voodoo's former head of programmes Tony Moss and his deputy Ben Devlin.
Motive will provide up to ‚£400,000 in working capital and development funding for Rumble TV. Motive has the option to buy Tony Moss's and Ben Devlin's shares for up to ‚£10m (dependent on Rumble TV's performance) at any time after the end of the fifth year of the joint venture. Motive would expect to exercise this option should Rumble TV reach targeted levels of profitability.
Tony Moss and Ben Devlin previously worked with Motive Executive Chairman Mick Pilsworth at Chrysalis TV.
Tony Moss said: "After five happy and successful years at Visual Voodoo, the opportunity to form my own Indie and work with Mick Pilsworth and the other executives at Motive was too good an opportunity to turn down. And particularly at the start of what seems a year of such opportunity and excitement across all the major broadcasters."
Ben Devlin said: "The creation of Rumble TV will be a great opportunity to focus on surprising and entertaining ideas for a wide range of broadcasters."
Motive Executive Chairman, Mick Pilsworth, commented: "Today's launch marks the establishment of the fifth production company at Motive and I am equally pleased to be able to work with Tony Moss and Ben Devlin again. Motive is focused on financing joint-venture start-ups led by established producers with strong track records and ambitious plans for growth. Rumble TV fits the bill perfectly. With a number of exciting projects in the pipeline, we are confident that it will deliver fresh and exciting programmes to broadcasters in the UK and significant profitability to Motive Television."
For further information, please contact:
Motive
Mick Pilsworth 07968 008836
Bishopsgate Communications Ltd 020 7562 3350
Jenni Herbert/ Nick Farmer
motive@bishopsgatecommunications.com
City Financial Associates Limited 020 7492 4777
Liam Murray
Notes for Editors
Motive Television PLC (www.motivetelevision.co.uk) is a leading media investment company, specialising in television rights owners. Based in London, it is listed on the AIM and is led by television industry experts Mick Pilsworth and Ian Buckley, who between them have almost 50 years experience in the sector.
Mick Pilsworth founded Chrysalis TV, Britain's first "super indy", which was sold to Bridgepoint Capital for ‚£51 million in 2003. He and Ian Buckley first worked together at USM-quoted independent tv production group SelecTV PLC, where Pilsworth was Managing Director and Buckley was Finance Director. SelecTV PLC was sold to Pearson TV/United Business Media for ‚£30m in 1996.
Motive's other investments include:
* A 49.9% interest in comedy production company Brown Eyed Boy, whose latest hit show, "Little Miss Jocelyn" is being broadcast on BBC2. It is in production on a new sitcom for BBC3, "How Not to Live Your Life", starring Dan Clark. Brown Eyed Boy is led by former Chrysalis TV executive Gary Reich. * A 50.6% interest in Manchester-based Scarlet Television, whose recent credits include "Diana's Last Summer" for Sky 1; "What's Eating Victoria Beckham?" for FIVE; Richard E. Grant's "Elementary My Dear Viewer" and "Roald Dahl's Revolting Rule Book", both for ITV2; and "Beefcake: A Very British Sex Symbol", for BBC2. It is currently producing major programmes for ITV, Sky and Crime and Investigation Network. Scarlet TV is led by Paula Trafford. Motive acquired its stake in August 2007. * A 50% interest in Luminous Productions, which is piloting a new family entertainment show, "Creche Test Dummies", starring Jason Byrne, for RTĉۡ. Luminous is led by former Chrysalis TV executive Cillian de Buitlĩar. Luminous was established in July 2007. * A 100% interest in Dublin-based production company Motive Television Ltd, which produces "No Place Like Home' for Irish broadcaster RTĉۡ, and is currently in production on a major history of Gaelic games for Setanta Sport, "Part of What We Are".
MOTIVE TELEVISION PLC