TV production company Essential Quail Media acquired by Canada’s Kew Media Group
Canadian production house Kew Media Group has acquired the content production company behind Find My Family, Todd Sampson’s Body Hack and At Home with Julia, Essential Quail Media Group.
According to a release, EQ Media, which was founded in 2006, was acquired for an initial purchase price of AU$32.8m.
Kew Media Group has bought the company for more than AU$30m
The production company – a joint venture between Essential Media Group and Quail Television, has offices in both the US and Sydney, producing a variety of different productions.
EQ Media’s programming has been bought by ABC and SBS, Seven, Nine and Ten as well as Foxtel channels such as National Geographic and History Channel. Netflix is also a buyer.
In Australia, some of its most well known productions include Find My Family, Todd Sampson’s Body Hack, At Home with Julia, Afghanistan: Inside Australia’s War and Gourmet Farmer.
Kew Group has said the production company is expected to generate AU$60m in revenue and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of AU$10.2m for fiscal year 2018.
EQ Media’s senior management will continue to run the business for the foreseeable future.
New owner Kew Media Group is based across the United Kingdom, United States and Canada, owning production companies Architect Films, Awesome Media & Entertainment and Collins Avenue Productions. Its acquisition of EQ Media will allow the group to expand its international footprint.
The transaction is expected to be finalised in early July, subject to closing conditions.
Peter Sussman, KEW founder & executive chairman said upon meeting EQ Media CEO Chris Hilton more than 10 years ago, he had been very impressed.
“This acquisition bolsters KEW’s presence in the U.S. and provides KEW with a diversified revenue platform in Australia,” Sussman said.
Steven Silver, KEW founder and CEO said the company was an “exciting addition” to the group.
“We expect the acquisition to be immediately accretive to earnings and to free cash flow. In addition, we expect to generate meaningful synergies from the sale of additional EQ Media content through KEW’s global distribution platform,” he said.
For Hilton, EQ Media’s CEO, the acquisition gives the company the opportunity to benefit from a strong international distribution platform.
Greg Quail, chief content officer at EQ Media added: “For storytellers there has never been a better time; the explosion of streaming, the consolidation of cable and the enduring broadcast environment around the globe offer more platforms than ever to build audiences. We are delighted to join KEW’s drive to deliver top-rated content to the world,” Quail said.
