ITV in £17m deal for Norton group

Published on 31/08/2012 00:00

A PRODUCTION company co-founded by Graham Norton was bought by ITV for up to £17 million yesterday as part of its plans to ramp up its own-made content.

So Television was founded by Norton and his business partner Graham Stuart 12 years ago, focusing on comedy and entertainment with hit shows including the Bafta award-winning Graham Norton Show and The Sarah Millican Television Programme.

ITV agreed to pay £10m up front with a further £7m payable depending on performance up to July 2016, but the company refused to say how much Norton could pocket from the deal.

The acquisition is part of ITV’s strategy to grow its Studios division to decrease its exposure to the volatile advertising market.