Washington [US]Oct. 4 (ANI): “The X Factor” creator Simon Cowell has securitized the “Got Talent” franchise in a “groundbreaking” $125 million deal.
According to Variety, the television programs “America’s Got Talent” and “Britain’s Got Talent” are both included in the franchise’s intellectual property securitization. Assets from the franchise and its offshoots, including “margins and production costs, digital revenue, franchise and original content sales, and sponsorship revenue,” were brought together as part of the deal. .
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Worldwide, 72 countries, including Armenia, Chile and Egypt, have licensed the “Got Talent” franchise. “Most International Versions of a Reality TV Format” now holds the Guinness World Record.
Media and entertainment investment bank ACF and law firm Memery Crystal advised Syco. The transaction, according to ACF, lasted more than two years and involved teams from both sides of the Atlantic. The form of the agreement is comparable to that of royalty streams in the music industry.
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According to ACF, the “war chest” generated by the securitization agreement will be used by Syco to “expand the business through a mix of strategic acquisitions and organic growth projects”.
“ACF certainly has talent,” said Ian Rosenblatt, head of Syco Entertainment. “Their team, led by the ever tenacious Thomas Dey, delivered on their promises and presented the perfect partners to achieve our goals.”
Dey, Founder and CEO of ACF, said: “ACF worked with Syco to formulate this financial strategy to support its plans and managed the entire process as lead bank. Our mission was to create a structure that allowed the company to maximize the full potential of its existing passive royalty income stream. ACF has created a winning formula using its vast experience in the media and entertainment sector. We are certain that this revolutionary structure will be the one we use for many media formats in the future,” as quoted by Variety
Both the UK and US versions of Britain Got Talent feature Cowell as a judge, and the program airs in over 69 different countries. (ANI)
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