STV Takes Full Ownership Of Rumpus Media & Reaps Reward Of Deal With ‘Patrick Melrose’ Producer Two Cities

deadline.com:

STV has upped its majority stake in Joe Lycett’s Got Your Back indie Rumpus Media and reaped the rewards of the recent deal with Patrick Melrose maker Two Cities, as the Scottish outfit posted a profit and revenue boost.

STV’s full-year results this morning revealed for the first time that production arm STV Studios now owns 99% of Rumpus Media, a deal that came less than a year after the exits of Rumpus founders Emily Hudd and Iain Wimbush, who had turned the indie into a prolific unscripted producer across a decade.

They were replaced by Josephine Brassey. The company’s credits include Joe Lycett’s Got Your Back and The Misadventures of Romesh Ranganathan.

STV acquired 40% of Rumpus when it bought Greenbird from Keshet in July 2023 for £21.4M ($27.7M) and that became 99% around eight months ago following the trigger of what is called a “bad leaver” provision in the pair’s share purchase agreement, according to today’s results, which said the additional 59% of Rumpus transferred to STV for a “nominal consideration.” During the second half of last year, STV also took a 51% majority stake in another unscripted producer, Hello Halo.