Shareholders of UK-based distributor DCD Media have agreed to the £4.7M ($6.3m) deal to sell the company’s assets to fellow sales outfit and producer 108 Media.
US- and Singapore-based 108 Media will buy DCD Rights via the UK company’s parent NBD. The deal also includes DCD Media’s Bridezillas prodco September Films, TBI understands.
The sale, which emerged last month, will see investor Timeweave – which has held a majority share in NBD – exiting the business. It said at the time of the sale that it no longer wanted to fund The Secrets She Keeps distributor.
NBD became the sole direct subsidiary of DCD’s rights business last month following a restructuring.
NBD was originally founded by Nicky Davies Williams in the 1980s and then acquired by DCD in 2006. It was subsequently rebranded as DCD Rights and has a catalogue of more than 3,500 hours of programming across drama, entertainment, factual and music.
Its slate ranges from dramas such as The Frankie Drake Mysteries and Jack Irish to unscripted series Outback Car Hunters and Secrets Of The London Underground, with annual revenue to 31 March 2021 standing at £11.3m.
In a statement to investors following its AGM yesterday, DCD said: “The Company is pleased to announce that at the General Meeting held today, the resolution to approve the sale of the entire issued share capital of N.B.D Holdings Limited, a wholly owned subsidiary of DCD Media to 108 Media Ltd, on the terms set out in the sale and purchase agreement dated 16 November 2021 was duly passed.”