UK-based Tinopolis Group is moving close to a deal thought to be worth more than US$100 million to acquire US unscripted prodco Magical Elves.
Magical Elves is understood to have been looking at a sale for some time now and Variety yesterday reported Tinopolis has emerged as the suitor.
Knowledgeable sources have to TBI indicated ITV Studios America was a front runner to acquire the Top Chef producer as recently as late last year, though it has since turned its attentions to other alternatives.
Besides Bravo’s Top Chef, Magical Elves produces another hit for the cable channel, Project Runway, along with other such as Showtime’s Time of Death and TNT’s Cold Justice.
Tinoplis has been extremely active in acquiring US unscripted producers – despite those companies rarely hanging on to rights for series they create – and just this week launched Tollbooth Group with producer Kevin Lee. It already owns Kitchen Nightmares producer A Smith & Co. and BASE Productions.
Neither Magical Elves nor Tinopolis could be contacted before press time.