ITV Studios Buys Majority Stake In ‘Upright’ Producer Lingo Pictures In Australia
deadline.comITV Studios has acquired a majority stake in Australian producer Lingo Pictures — marking its first acquisition in the country.
ITV’s production and sales arm paid an undisclosed amount for the Sydney-based company, which is best known for Upright, the Sky and Foxtel Australia drama starring Tim Minchin and House of the Dragons‘ Milly Alcock.
Deadline understands the deal value is in the eight-figure US dollars region. The deal highlights the growing value international production groups are seeing in Australia, whose favorable tax breaks system is increasingly attractive, and Australian dramas, with Paramount+’s Last King of the Cross one of the most sought-after titles available at Mipcom last month.
Lingo owners Helen Bowden and Jason Stephens will continue to head up Lingo, which will now sit in ITV Studios’ international production arm, which Lisa Perrin leads as Managing Director.
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