Graham Norton sells company to ITV
ITV has bought Graham Norton's production company, So Television, in a deal that could be worth £17 million over the next four years
ITV has bought Graham Norton's production company in a deal that could be worth £17 million.
The broadcaster has acquired So Television - producer of the presenter's BBC One programme 'The Graham Norton Show' - and will pay £10m upfront in cash with a further £7m in cash payments dependent on the company achieving profit targets between now and 31 July 2016.
Norton said: "So Television has been our baby for 12 years, so I'm thrilled that the ITV family has decided to take it under their wing and help it blossom."
The ITV Studios UK managing director, Denise O'Donoghue, added: "So Television is known for its creative rigour and intense quality-control across its programming, whether that is its crown jewel, 'The Graham Norton Show', or its newer but no less brilliant 'The Sarah Millican Television Programme'."
ITV was linked to a possible bid for So Television - which was co-founded by Graham and producer Graham Stuart in 2000 - last year and has also looked at buying Gallowgate, Anthony McPartlin and Declan Donnelly's independent production company.