International buyers circle Australia’s Seven Studios

Home And Away

Australia’s Seven West Media is reportedly fielding interest from a number of international media firms about buying its in-house production business Seven Studios, which makes Home and Away and My Kitchen Rules.

ITV Studios, Disney and Comcast’s NBC Universal are in discussions about buying Seven Studios, according to a report in the Sydney Morning Herald.

Seven West Media chief executive James Warburton last week revealed the company had appointed investment bank Morgan Stanley to explore the sale of the production business.

The Sydney Morning Herald said the talks are about a range of potential ways to work together, but are not advanced. One option being looked at is a joint-venture with one of the businesses.

Seven Studios is led by Therese Hegarty and has a number of international divisions, including Seven Studios UK and 7Beyond in the US.

The operation creates local content for the television network, but also makes shows for other companies, including streamers Netflix and Amazon.

Back to the Rafters, a spin off of local drama Packed to The Rafters, was commissioned for Amazon Prime last year and the business also produces Zumbo’s Just Desserts for Netflix.

 

Related