Shed confirms Warner Bros talks

Shed Media has confirmed it is in takeover talks with Warner Bros. The UK super-indie is listed on the London Stock Exchange and issued a statement this morning in response to press speculation that it was about to be bought by the US company.

“The independent directors confirm that the Company is in discussions with Warner Bros Entertainment Inc., a wholly-owned subsidiary of Time Warner, working with certain members of Shed management,” the statement read. “There is no certainty that an offer will be made nor as to the terms on which any offer might be made.”

Shed said it will make a further announcement in due course.

Earlier this month the company said it had ceased buyout talks with a group comprising private equity partners and Shed management. At that point it confirmed it had received another offer from an unnamed party working with certain members of management.

Shed comprises several UK indie producer brands including Twenty Twenty, Wall to Wall and Ricochet. Outright Distribution is its programme sales arm.