With a focus on non-scripted television sales, TCB has been one of the fastest-growing distributors in the market. In its most recent action, it closed a representation deal with Sydney’s Essential Media and Entertainment for over 55 hours of new and existing factual entertainment programming. The addition of the Essential catalogue to the TCB Media Rights portfolio brings the number of new hours the company was set to launch at the forthcoming MIPCOM show to more than 250. The distributor planned to head for Cannes with a slate of 36 brand new shows.

With its slate of factual entertainment titles, Kew Media believes that owning TCB significantly increases its ability to broaden distribution activity in the non-scripted arena and, even more importantly, aligns KEW’s distribution capacity with the content generation of many of its production companies. Post-acquisition, TCB will act independently of KEW MEDIA’s distribution arm, which will continue to distribute the group’s growing slate of multi-genre programming.

Under the terms of the buyout, Kew Media will pay an initial consideration on closing of £5.6 million in cash and £0.7 million in Class B shares. The Company has also agreed to pay deferred compensation based on TCB’s actual Adjusted EBITDA for the fiscal year ending 31 December 2017 that it projects will cap the purchase price at no more than seven times adjusted EBITDA. TCB is expected to generate approximately £11.5 million of revenue and £1 million or higher of Adjusted EBITDA for fiscal 2017. KEW anticipates increasing TCB’s investment in content, driving substantial revenue growth, for which TCB has capacity without a significant increase in its overhead.

“TCB is one of the world’s most prolific distributors of unscripted content,” said Kew Media CEO, Steven Silver. “The company Paul Heaney has built over the last five years adds decades’ worth of experience and expertise to our operation. TCB will continue to operate as it has been, since we intend to maintain the distributor’s boutique feel and producer-oriented focus, but now with increased resources for greater content development opportunities.”

“We are delighted to be partnering with Kew Media,” added TCB Media Rights CEO and founder Paul Heaney. “As we strategised on how best to elevate TCB, it was quickly apparent that a partnership with Kew Media was the perfect fit. With its established business platform, proven management team and access to capital markets, the foundation for strong growth is firmly in place.”