TF1-owned producer and distributor Newen has taken a majority stake in Dutch indie production company Tuvalu Media Group, concluding its first international acquisition.
Newen said is looking to “become a European leader in the production and distribution of audiovisual content.” The TFI Group has already concluded commercial partnerships with companies in Germany, Spain and Canada as part of its format exchange network Newen Network.
The Tuvalu acquisition was backed by investment fund Karmijn Kapitaal. Founders Taco Zimmerman and Duurt van der Werf will stay as minority shareholders and keep managing the company.
Launched in 2006 Tuvalu Media Group is one of the leading Dutch indie prodcos and was affiliated to Sony Pictures Television between 2008 and 2013 , before being sold back to its management. The company claims to have a “specific expertise in terms of formats creation and original programming sales as well as into foreign formats adaptations on its domestic market.”
The deal with Newen is set to give it more strength to grow and finalise further acquisitions in the domestic market. It will also benefit from Newen’s experience in scripted formats.