Shed announces final results

Shed Media plc Final Results for the 16 months ended 31 December 2007

Shed Media Plc ("Shed" or "the Group"), one of the UK's leading independent producers and distributors of television content, today announces final results for the sixteen months ended 31 December 2007.

Click HERE to download a copy.

Shed acquire Twenty Twenty Productions

Shed Media plc ("Shed" or the "Company"), one of the UK's leading independent television production companies, is pleased to announce the acquisition of Twenty Twenty Productions Limited and its subsidiary company Twenty Twenty Brighton Limited, collectively known as "Twenty Twenty".

Click HERE to download the full details.

RICOCHET TELEVISION HIRES EXECUTIVE PRODUCER JEN O'CONNELL TO CREATE AND DEVELOP NEW PROGRAMMING

LOS ANGELES, CA - The production company best known in the US for the parenting hit "Supernanny," and this summer's weight loss series on ABC, "Fat March", has named Jen O'Connell Senior Vice President of their Los Angeles based North American office.

Jen O'Connell's will report to Nick Emmerson, Executive Vice President of Ricochet Television who has led the rapid expansion of Ricochet in the US. As well as the two ABC shows, the company is currently in production on major projects for The Discovery Channel and Bravo and in paid development on a number of other new formats.

O'Connell's recent credits include "The Biggest Loser" and "Tommy Lee Goes to College." She executive produced "Science of Love" and was creative and program consultant on a variety of programming over the course of several years for NBC and The Disney Channel.

Ricochet Television is based in the United Kingdom where the company is one of the leading independent production companies of high quality factual and entertainment television programming. Ricochet's international phenomenon "Supernanny" launched the company in the United States.

TV Quick and TV Choice awards

Supernanny has been short listed once again for the 'Best Lifestyle Show'. Thank you to all those people that have voted for Supernanny!!

Shed announces interim results

Shed Productions PLC today announces its Interim Results for the six months ended 28th February 2007. Click HERE to download a copy.

Screentime Partners becomes Outright Distribution

UK based global content distribution outfit, Screentime Partners is heading into 2007 under a new corporate identity, which will more closely reflect its new strategic position after its acquisition by Shed in Autumn last year.

Screentime Partners will change its name to Outright Distribution signalling a comprehensive brand image change and a move to a new central London location to accommodate the expanding team.

Outright re-launches as a bigger player offering a full third party service to producers, with a solid, tried and tested background in commercialising formats combined with a new proven slate of finished and formatted entertainment and drama. The company currently has a 60-40 sales ratio of finished programmes to format license rights and will keep this important emphasis on formats going forward.

Outright's expanded content portfolio, which has doubled in size to over 400 hours in the last year, comes from a number of sources:

• the Shed Group provides a source of contemporary, original dramas (through Shed Productions) and sought-after factual entertainment series (from Ricochet)
• a continued first-look arrangement over all entertainment and fully funded drama product from Australian-based producer Screentime.
• and finally Outright's most important revenue source will continue to come from its current and new relationships with third party producers such as All3 Media, Flame, Fulcrum, Luxury Unveiled Ltd, Moonbeam Films, Two Four, TV Asahi and Waddell Media.

Chris Bonney, CEO of Outright explained:

'This re-brand is designed to give us the fresh look and feel that is in line with the enlarged business we are now developing and further reflects our enhanced offering in established territories as well as our continued push of strong UK programme brands into the far reaches of the global market. Format exploitation needs to be fully integrated into a successful international rights strategy, and along with our impressive finished programming slate, we have the knowledge and expertise to fully exploit the intellectual property of our clients' TV content. A key next phase in our development will be to aggressively expand our third party representation.'

Shed annual results 2006

Click HERE to download a copy of Shed's Annual Results for 2006.

Shed announces preliminary results

Shed Productions PLC today announces its Preliminary Results for the year ended August 31st 2006. Click HERE to download a copy.

Acquisition of Screentime Partners

Shed Productions today announces the acquisition of global distribution company, Screentime Partners. This move fulfils an important part of Shed's strategy to bring in-house the expertise of international distribution. The initial consideration is £2.0 million, with a further £1.0 million payable dependent upon Screentime's financial performance up to 30 June 2008.

Screentime Partners will distribute Shed and Ricochet product, including the Group's library and formats. Working closely with Shed, Screentime Partners will also continue to grow its business with third party producers, helping them to fully exploit ancillary rights and maximise distribution strategy. Screentime Partners will continue to distribute Screentime Groups entertainment product.

Formed in 2003, Screentime Partners distributes a range of high quality entertainment programmes to broadcasters and producers worldwide. Currently, it has over 400 hours of programming in its catalogue including 'To Catch A Thief', 'Ranking The Stars', 'What Kids Really Think' and 'Best Of The Worst'.

Screentime Partners has a strong presence in Australia and the Far East including China, one of the largest growing markets for content in both traditional and new media. It also has experience distributing content to some of the more difficult territories, such as the Eastern Bloc, which is an important territory often overlooked by distribution companies.

With the growth of the Shed Group's product and as new commissions are won, the acquisition means Shed will be in a position to fully exploit the rights to all of its products and maximise distribution. Additionally, given the expertise Screentime Partners has of the global market, the Shed Group will be in a strong position to explore new media exploitation worldwide.

The acquisition also opens doors to future co-production opportunities between Shed and Screentime Group. Screentime Group's output includes international reality formats Popstars and StripSearch.

Eileen Gallagher, Chief Executive Officer of Shed commented:

"For some time we've been keen to diversify into distribution. Not only do we want to maximise on distribution opportunities for the Group, we are also keen to grow third party business from other producers. We now have the talent and experience in-house to help third party producers fully exploit ancillary rights to their product and maximise on distribution strategy."

"Screentime Partners have a talented team led by Chris Bonney. They have built up a successful worldwide distribution business and we are delighted to have them on board."

Chris Bonney, Chief Executive, Screentime Partners commented:

"The Shed Group has consistently produced sought after quality programmes that have been distributed worldwide. The growing diversity of the Shed and Ricochet output complements and greatly expands our existing portfolio with third party producers and the Screentime Group. We look forward to growing the business together."

Shed Productions announces
the acquisition of Ricochet

Shed Productions plc, one of the UK's leading independent television production companies, responsible for long-running dramas, Footballers' Wives and Bad Girls, is pleased to announce the acquisition of Ricochet Limited, creators of programmes including Supernanny, It's Me or the Dog and How Not to Decorate.

Summary

• Ricochet is a leading UK independent production company that produces high quality factual entertainment series, international formats and documentary series for major broadcasters in both the UK and the US
• Ricochet specialises in long running series and returning brands
• Ricochet programmes include the global hit 'Supernanny', as well as 'It's Me Or The Dog', 'Risking It All', 'How Not To Decorate', 'Who Rules The Roost?', 'Selling Houses', 'Born to be Different', and 'No Going Back'
• Ricochet produces 'Supernanny' in the US for the ABC network where it is in its second season
• Initial consideration for Ricochet is £25.0 million in shares, cash and loan notes, with a further £5.0 million in shares payable conditional upon performance in the periods ending 31 August 2006 and 30 April 2007
• In the year ended 30 April 2005, Ricochet generated unaudited pro forma consolidated profit before tax of £2.1 million on turnover of £15.3 million
• The transaction is expected to be earnings enhancing in the current financial year
• Shed welcomes Nick Powell and Nick Southgate, Ricochet's Managing Director and Creative Director respectively, to the Board of Shed
• Shed also announces that its US agents have closed a first look and script deal with Fox Network and a format deal for 'Bad Girls' with cable network FX
• Ricochet announces that ABC in America have picked up a further 8 episodes of 'Supernanny' taking the season run to 22

Eileen Gallagher, Chief Executive Officer of Shed commented:

"Ricochet is a truly quality company and a perfect fit for Shed. It has a talented, driven management team that has built a broad range of high quality entertainment and factual programmes and formats over the last 10 years. Like Shed, the management prides itself in delivering profit to investors as well as high quality programmes for its broadcast customers. Nick Powell and Nick Southgate will both be joining the Shed Board and the Shed team look forward to driving the business forward together."

Nick Powell and Nick Southgate, Ricochet's Managing Director and Creative Director respectively, commented:

"Shed is admired throughout the industry for their creative talent and strong management. The opportunity of joining them was irresistible.

Like Shed, Ricochet prides itself on making programmes that people love to watch and talk about. We share qualities which will allow us to create unique opportunities in the future, ensuring that we continue to expand and make memorable TV both here and abroad. We look forward to an exciting future together."

Acquisition rationale

Shed's strategy from flotation has been to grow both organically, and through the acquisition of suitable production company targets that fit the strict criteria of offering shareholder value, creative fit and where the key creative talent is tied in by ownership.

The acquisition of Ricochet is consistent with these principles. It is expected to be earnings enhancing in the current financial year. Ricochet's wide ranging programme slate broadens Shed's product offering to broadcasters, whilst Ricochet's existing relationships with US broadcasters provide Shed with an exciting opportunity to make further inroads into the US market. In addition, Ricochet qualifies as a regional independent and, as such, benefits from strict regional production quotas applied to UK broadcasters. Furthermore, Shed intends to fully exploit the ancillary rights to Ricochet's productions through wider distribution of international, DVD and licensing rights.

Ricochet has an experienced management and creative team, and Shed is pleased to announce the appointments of both Nick Southgate and Nick Powell to the Board of Shed as executive Directors. Both have been allotted new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") as part of the consideration for Ricochet, following which Nick Powell will have an interest in 4,836,785 new Ordinary Shares and Nick Southgate will have an interest in 2,195,358 new Ordinary Shares, representing 8.1% and 3.7% of the enlarged issued share capital of the Company respectively. These shareholdings are subject to lock-in arrangements for one year, with orderly market arrangements for one year thereafter.

Consideration

Initial consideration of £25.0 million is to be satisfied as to £7.5 million in cash, £10.0 million through the issue of 9,916,944 new Ordinary Shares at 100.8375 pence per share (being the average of the closing prices on the 20 business days preceding the date of completion), representing 16.6% of the enlarged issued share capital of the Company, and £7.5 million in loan notes redeemable from the first anniversary of completion. Application will be made for the new Ordinary Shares to be admitted to trading, and admission is expected to occur on 1 December 2005. These new Ordinary Shares will not rank for the dividend declared on 16 November 2005 in respect of the financial year ended 31 August 2005. The cash element of the consideration will be funded from Shed's existing cash resources and a new £4.0 million revolving credit facility.

In addition, subject to certain performance criteria for the periods to 31 August 2006 and 30 April 2007, additional consideration of up to £5.0 million will be payable in new Ordinary Shares. The total maximum consideration is therefore £30.0 million.

Ricochet is being acquired on a cash and debt free basis, subject to sufficient funding for its current working capital requirements remaining in the business.

Information on Ricochet

Ricochet is a leading UK independent production company, and produces high quality factual entertainment programming and documentaries for major broadcasters in both the UK and the US. Ricochet has a reputation for innovative and award winning programming; with recent successes including the global hit 'Supernanny', now broadcasting in 37 territories and in its second series on Channel 4 in the UK and on the ABC network in the US. Other programmes that Ricochet has produced and which are now in their subsequent series include: 'It's Me Or The Dog', 'How Not To Decorate, 'Risking It All', 'Who Rules The Roost?', 'Selling Houses', 'Born to be Different' and 'No Going Back'.

Ricochet has strong relationships with broadcasters in both the UK and the US including Channel 4, BBC, Five, ABC and Discovery. Ricochet continues to build on these relationships and develop programming for other broadcasters on both sides of the Atlantic.

In Ricochet's 2005 financial year, the number of hours commissioned increased by 92% on 2004. Ricochet expects a further increase of over 70% in the 2006 financial year, on which it has good visibility with 91% of expected hours already commissioned.

US Update

Shed further announces that its US agents, UTA (United Talent Agency), have closed two deals in the US market on Shed's behalf. The first is a "first look" and script deal with Fox Broadcasting Corporation in which Shed is paid to develop original drama programming for the Fox Network. The second is a format deal with cable broadcaster FX, part of the Fox family of channels, enabling it to develop a US version of the UK hit 'Bad Girls'.

Ricochet also announces that the ABC network in the US has now confirmed a further order of 8 episodes for the current series of 'Supernanny' bringing the second season run up to a total of 22 hours. This increased commission, awarded 6 months before the contractual deadline, underlines the confidence the network has in 'Supernanny'

Archive news

Ricochet announces the appointment of two channel 4 commissioning editors

Brighton based Indie Ricochet has signed Emma Westcott as Managing Editor - Factual and Mark Rubens as an Executive Producer, to join their rapidly expanding team on the South coast.

Emma Westcott leaves the post of Commissioning Editor Features where she looked after Grand Designs, You Are What You Eat, Ten Years Younger and Property Ladder, in addition to Ricochet programmes like No Going Back, Selling Houses and the third series of Supernanny.

Mark Rubens leaves as Editor, News and Current Affairs. Mark has worked at Channel 4 for two and a half years, first as a channel executive on Big Brother and then in the News and Current affairs department, where he oversaw the first series of Ricochet's Risking it All. Rubens will join Ricochet in mid August with Westcott arriving in September.

Nick Powell, Managing Director of Ricochet Ltd, said: "We are delighted to have attracted two highly regarded commissioning executives with excellent track records in quality programming to join our senior editorial team. Both Mark and Emma know Ricochet well and I look forward to them delivering a distinctive range of popular returning series.

Mark can handle anything from Big Brother to Dispatches and will join our team of executive producers to focus on contemporary documentary formats and large scale projects.

In hiring Emma we will have one of the best in the business at delivering highly successful programmes which people flock to watch. In addition to overseeing series, Emma will work closely with both me, and Nick Southgate, Ricochet's Creative Director, to define and win new areas of business."

Kevin Lygo, Channel 4 Director of Television, said: "The strength of our features and lifestyle output has been critical to Channel 4's success in the last few years and our programmes remain the envy of other broadcasters. Emma has been a key part of the team responsible for this success - she goes with our thanks and best wishes."

The appointments coincide with Ricochet's recent decision to merge Ricochet South with Ricochet Digital to create a single, regional company - Ricochet Ltd. The company headquarters is in Brighton with permanent offices in London and Los Angeles.

For further comment please feel free to call Nick Powell at Ricochet on 01273 224800

It's Me Or The Dog

It's Me Or The Dog is a major new 6-part series for Channel 4 and premieres primetime in the UK mid-August. Parachuted into homes where the pet is running riot and the family is in the dog house, dog training expert Victoria Stilwell arrives to restore order. Through observation, interviews and secret filming with a 'pet cam', Victoria assembles her evidence and diagnoses the problem. A clear practical training programme ensues, offering pet and owner the chance to change the bad habits of a lifetime. It's Me Or The Dog is the definitive guide for pet owners offering them transformational and hands-on advice that puts pets in their place and owners back at the head of the household!

Packed with info on everything from dog talk to diet, a book based on the TV series is now available. Published by Harper Collins, It's Me Or The Dog is a superb, practical manual for pet owners. Victoria explains dog psychology and provides a timed, structured programme for both puppies and older dogs, along with a wealth of problem-solving advice.

It's Me Or The Dog has already sold to Network Ten, Australia.

Supernanny bags Rose d'Or

On Saturday 7th May Supernanny won the prestigious Rose d'Or at the Festival Rose d'Or in Lucerne, Switzerland. The event is considered the most important in the entertainment TV industry. Supernanny won in the Best Reality Show category.

Ricochet merger

The three Ricochet companies: Ricochet Films, Ricochet South and Ricochet Digital, have merged to become one company called simply, Ricochet.

The move coincides with the companies' recent rapid expansion. Turnover for the companies has more than doubled in each of the last three years and for 2004 will reach 15 million.

The new headquarters for the company is at Pacific House in the Seven Dials area of Brighton. After a period where the company was spread over five offices in Brighton, the seventy-strong staff are now all under the same roof. Ricochet will still have a very active London office at Cairo Studios and our expanding Los Angeles base on Wiltshire Boulevard.

Nick Powell remains Managing Director of the company, Nick Southgate becomes Creative Director, Sarah Stinchcombe is Head of Production and Charlotte Street becomes Head of Commercial Affairs.

Supernanny grabs America and Australia

Supernanny Jo Frost's first book has shot to number one in the New York Times' bestseller list.

Over 225,000 copies have already been sold of the book that is packed with her unique child-rearing tips, including the trademark 'naughty step'.

America's People magazine has raved about the US show which is pulling in big audiences on ABC each Monday night, describing Frost as 'the next, nicer version of Simon Cowell'

The Supernanny book was published in the UK in April and within the first week hit number 5 in the bestseller lists.

Supernanny US has just started airing on Channel 9 in Australia and is already in the top 3 shows on the network.

Supernanny wins RTS award

Ricochet's Supernanny won the Royal Television Society Award for Features and Factual Entertainment at a ceremony held in London's Grosvenor House on Tuesday 15th March.

The judges praised Supernanny as ".a compelling and stimulating format, which had a huge impact on the genre, and delivered entertaining tension-bound television."

Supernanny has also been nominated for a prestigious award at the Rose d'Or Festival in Lucerne.

"A powerful trend is clearly seen in formats such as Supernanny, where, by going closer to real family lives, entertainment programmes help improve the knowledge and quality of life of both the participants and viewers, instead of putting them through cruel games," said jury member Daniela Matei, vice-president of production at SBS Broadcasting Group.

The winners will be announced in Switzerland in May.

Another Ricochet programme, Tetris: From Russia with Love, is also proving popular with the judges. Director Magnus Temple made the documentary for BBC4 last year.

The film charts the extraordinary story of the computer game Tetris as it breaks out of the Soviet block to conquer the West. Tetris was nominated for best historical documentary at the Grierson awards, and Best Science, Technology or Natural History Documentary at the 2005 Indies.

Supernanny

US version premieres - Super Nanny Jo Frost heads to the US to solve eight American families' childcare woes. Mondays at 10pm/9c on ABC.

New! www.supernanny.net for the very latest Supernanny news, including details on a new series for Channel 4 and Jo Frost's new childcare book.

Justin and Colin

New series of How Not To Decorate every Friday at 9pm on Five.

Living In The Sun

Weekdays at 10am on BBC1

Nadia Sawalha presents a new series about Britons living in Southern Spain. If you've ever dreamt about starting a new life in sunnier climes, Living In The Sun shows how to get it right and what happens when things go wrong...

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