Lyceum-backed Compact Media Group acquires rights consultancy
Lyceum Capital portfolio company Compact Media Group, an independent rights administrator and distributor of royalties for TV, film and music, has acquired its first add-on company Rights.tv, a leading consultancy that provides business affairs and commercial guidance.
Backed by Lyceum in October 2010, Compact provides a broad range of collection and administration services which maximise royalty income for intellectual property rights owners such as producers, distributors and broadcasters, as well as government-backed agencies and financial institutions.
Since Lyceum’s £17 million investment, the mid-market growth investor has implemented a programme of operational enhancement and organic growth, resulting in a number of new client wins and the identification of complementary acquisition opportunities.
This first deal sees Compact acquire Rights.tv, a leading consultancy that provides media clients with business affairs and commercial guidance, offering advice at all stages of production from creation and development through to financing, production, distribution and exploitation of rights.
Rights.tv also offers day-to-day commercial and strategic consultation to growing production companies as well as advice on co-productions, raising finance and programme exploitation. Clients include Shine Group, Impossible Pictures, Wide Eyed Entertainment, Icon Films, Blink, Fresh Productions, HoHo Entertainment, Arlington Enterprises and MoMedia.
The acquisition enables Compact to extend its extensive range of services and provide advice from legally-qualified consultants around the documentation of TV production relationships and ongoing contract management.
Dan Adler, Partner at Lyceum, said: “Following the Terms of Trade agreement in 2004, rights deals have become increasingly complex, which means the need for expert business affairs has become more acute for producers.
“Rights.tv is an excellent strategic fit, providing high value services in the business affairs market and allowing Compact to offer its client base access to these specialist services. It’s these sorts of complementary acquisitions that we’ve been looking at since our investment and will continue to seek to further expand Compact’s core offering.”
Andrew Baker, Founder of Rights.tv, will remain as Managing Director and will be relocating the business into Compact Media Group’s London offices. Andrew will continue to build Rights.tv’s presence in the regions and nationally.
Following the acquisition, Rights.tv has also strengthened its team with the appointment of Michelle Bruce as Business Affairs Director. Her previous roles include working with Discovery Networks International as Director of Acquisitions and Business Affairs as well as Head of Sales and Acquisitions at TVF International. Michelle will be responsible for overseeing the London office and supporting expansion in the UK and internationally.
Andrew Baker commented: “We are excited to be welcomed into the fold and thrilled about the potential this deal offers us. As we move forward as part of Compact Media Group, Rights.tv is proud to be complementing the company’s rights offering to support clients through every stage of their business, from negotiation and exploitation through to rights collection.”
Richard Green, Executive Chairman, Compact Media Group, added: “We are thrilled to be welcoming Rights.tv into Compact Media Group. They constitute an excellent strategic fit, allowing Compact to offer its client base access to further specialist services. Andrew Baker is highly regarded within the media market and we look forward to working alongside him, Michelle and the team.”
Established in 1996, Compact represents over 350 companies including BBC Worldwide, ITV Global Entertainment, Scottish Media Group, Icon, FremantleMedia, Channel 4, Discovery Communications, National Geographic, Echo Bridge and several of the UK’s largest independent producers, ALL3MEDIA, Shed and Hat Trick. Recent signings include Shine Australia PTY, Icon Films, Keo Films, Dragonfly Film and Television Productions and Zodiak Rights.
In March this year, Compact also strengthened the management team with the appointment of a new Financial Director, Warren Newbert, from BBC Studios and Post Production. The company also enjoyed significant successes in 2010, including increasing its Q4 collections by 11 per cent on behalf of its clients, with nearly 20 per cent growth year on year.