Shed Media set to complete sales negotiations with Warner Bros

Warner will buy British television company for around £100m

Shed Media is set to complete business negotiations with Warner Bros over the sale of a controlling stake in the British television company.

Warner will take control of 55.75 per cent of the firm in a deal worth £100 million, while the remaining share of the business will still be owned by Shed management and staff.

Shareholders in the UK firm will receive a premium of around 73 per cent on the value of shares before the offer was made.

Ronald Goes, head of International TV Production for Warner Bros, claimed the firm is looking to enter the lucrative UK television market.

"The acquisition of Shed provides Warner Bros Television Group with immediate scale in UK production and complements our existing television production and distribution businesses," he said.

Shed is the maker of popular television shows such as Supernanny and Waterloo Rod and it owns independent producers Wall to Wall, Ricochet and Twenty Twenty.