Seven Network sells US and UK TV production interests
Seven Network has dropped production of TV shows in the US and Britain by selling its operations to Beyond International.
Seven Network has sold its television production operations in the US and Britain to production company Beyond International for an undisclosed sum, as boss James Warburton focuses on established TV formats.
Beyond announced late on Thursday that it had bought the remaining 50.98 per cent of the joint venture 7Beyond that it did not own from Seven, plus the free-to-air TV broadcaster’s UK production business, Seven West Studios.
As a result, Beyond has acquired the international format and finished program distribution rights for reality competition series Pooch Perfect from Seven, including the UK and Australian versions of the show.
Seven’s local version of Pooch Perfect, starring comedian and actor Rebel Wilson, failed to resonate with viewers earlier this year.
Seven is part of Kerry Stokes-controlled Seven West Media, which brought in Mr Warburton last August to replace Tim Worner. He has been charged with turning around Seven’s weak TV ratings and cutting the group’s $500m-plus debt.
In February, Mr Worner said he was looking at either a partnership or potential sale of Seven Studios, Australia’s biggest television production company. The group was also reviewing its ventures portfolio, which includes investments in lender SocietyOne, GP booking platform Health Engine and online job marketplace Airtasker.
The 7Beyond joint venture was established in November 2013 to develop new programming for production in the North American market. It is currently producing series 11 of My Lottery Dream Home for Discovery’s US pay-TV channel HGTV, with a large slate of pilots in production. Among programs in advanced stages of development is the US version of Pooch Perfect.
Seven West Studios is currently producing a prime time series of Pooch Perfect for British public broadcaster BBC. It was also recently commissioned to produce a series of My Lottery Dream Home International for HGTV.
Beyond chief executive Mikael Borglund said it has an “excellent relationship” with Seven, dating back to 1984 with the production of science and technology series Beyond 2000 for the network.
Mr Borglund said the two acquisitions will enable the group to expand its international production markets by developing new entertainment and factual content.
As part of efforts to bolster its international program sales, Beyond acquired London-based international sales group TCB Media Rights in April.
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