22 Jun 2007 12:07
MOTIVE TELEVISION PLC JOINT VENTURE Launch of Luminous Productions; star producer Cillian de Buitlĩar to target UK television entertainment market
Motive Television PLC ("Motive"), an AIM listed media investment company specialising in television rights and production, today announces it has launched Luminous Productions Ltd.
Luminous is a new independent television production company that will target the UK entertainment market. It is a 50:50 joint venture with entertainment producer Cillian de Buitlĩar. Mr. de Buitlĩar will be Managing Director of the new company. He has also joined the board of Motive Television (Holdings) Ltd (a subsidiary of Motive) with immediate effect.
Motive will provide up to ‚£500,000 in working capital for Luminous. It has the option to buy Mr. de Buitlƒ©ar's shares for up to ‚£5m (dependent on profits) at any time after the end of the third year of the joint venture. Motive would expect to exercise this option should Luminous reach anticipated levels of profitability.
Mr. de Buitlĩar previously worked with Motive CEO Mick Pilsworth at Chrysalis TV. He is one the UK's leading entertainment producers. He has worked with a multitude of talent, including Jonathan Ross, Chris Evans, Clive James, Ruby Wax, Paul Merton, Ian Hislop, Angus Deayton, Johnny Vaughan and Clive Anderson. His most recent credits are `Richard & Judy' (C4), `An Audience with Joan Rivers' (ITV) and `Phillip Schofield's Night Before Christmas' (ITV).
Motive CEO Mick Pilsworth, said: "Cillian has worked with the cream of British talent on UK television and I am delighted to be teaming up with him again. Motive is focused on financing joint-venture start-ups led by established producers with strong track records and ambitious plans for growth. Luminous fits the bill perfectly. With a number of exciting projects in the pipeline, we are confident that it will deliver significant profitability to Motive Television over a short time frame."
Cillian de Buitlĩar said: "Luminous Productions aims to deliver high-quality entertainment programmes with mass appeal. As well as building on my own strengths and experience, Luminous will be encouraging young talent, both on and off-screen, to create fresh formats and exploit emerging technologies wherever possible."
"We will be exploiting our core skills and contacts. Entertainment tv is a growing marketplace, offering the opportunity to make quality product at attractive margins."
For further information, please contact:
Motive
Mick Pilsworth 07968 008836
Brunswick 0207 404 5959
James Hogan / Craig Breheny / Ash Spiegelberg
City Financial Associates Limited 020 7090 7800
James Caithie
Note to Editors
Motive Television (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. In May 2005 Motive acquired 100% of Setanta Television Ltd. In March 2006, Motive announced that it had acquired 49.9% of comedy production company Brown Eyed Boy Ltd.
MOTIVE TELEVISION PLC