Report: IMG interested in buying Mark Burnett Prods, talks heating up
By Christopher Rocchio, 06/23/2008
It may not be a buyer's market, but reality producer Mark Burnett has reportedly found an interested customer in his production company.
IMG is reportedly interested in purchasing Mark Burnett Productions and negotiations are starting to get serious, Daily Varietyreported Sunday.
Burnett has reportedly been shopping his production company for several months and has had discussions with various interested parties, however the hefty $400 million price tag he's placed on it has apparently scared off some buyers, according to Variety.
IMG declined to comment on talks with Burnett's company, but Deadline Hollywood Daily reported late Thursday that IMG chairman Teddy Forstmann has been "heavily courting" Burnett, according to Variety.
Should IMG's attempt to purchase Mark Burnett Prods. eventually prove to be successful, Variety reported it's unknown how much the producer would receive.
However investment insiders familiar with the deal told Variety it would be a win-win situation for both Burnett and IMG -- with the production company able to make a splash in the domestic television market and Burnett allowed to take advantage of IMG's global market.
Meanwhile IMG already runs two U.K. production companies -- Tiger Aspect and Darlow Smithson -- and also holds broadcast rights to several sports events. IMG produces and distributes more than 11,000 hours of programming a year, according to Variety.