LONDON, 18 October 2010: FremantleMedia today announces the signing of an agreement to acquire a further 51 per cent stake in Ludia, Inc., a leading Montreal-based developer and publisher of interactive games. The transaction will bring FremantleMedia’s stake in Ludia to 80 per cent and the deal is expected to finalise before the end of the year subject to customary closing conditions and Canadian regulatory approval. Ludia’s President and Founder, Alex Thabet, will continue in his position and the holding will not impact any of the firm’s existing management team or third party partnerships.
The deal forms part of FremantleMedia’s ongoing plan to broaden and diversify its business scope through the development of new customers and business models for entertainment in addition to its TV business. It also builds on an existing relationship between Ludia and FremantleMedia.
Both companies have collaborated since 2008 on a diverse range of titles for leading games consoles and PCs as well as iPhone and iPad applications for well-known FremantleMedia classics such as The Price is Right, Family Feud and Press Your Luck. Ludia has also moved into social games most recently on Facebook with The Price is Right, and other titles are to follow.
“Ludia is a leading creator of video games, and after building a successful relationship over the last few years we are delighted to fully welcome them into the FremantleMedia family. Interactive gaming is an important way for FremantleMedia to diversify and this will increase our expertise and capability in this area, allowing both companies to develop even more successful consumer-facing entertainment across multiple platforms,” said FremantleMedia CEO Tony Cohen.
"FremantleMedia has been a trusted partner and this new investment gives us the opportunity to develop new games using their fantastic international brands," said Alex Thabet, President and Founder of Ludia. “We are very excited to be taking this next step in our business relationship and we’re looking forward to working even closer with FremantleMedia’s extensive global network to build our existing client base and to develop new channels.”
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Notes to Editors
FremantleMedia is one of the leading creators and producers of entertainment brands in the world. FremantleMedia is part of the RTL Group, Europe's largest television and radio broadcast company, which is in turn 90 percent owned by Bertelsmann AG, one of the world's major media and entertainment companies. FremantleMedia’s worldwide production arm is responsible for many of the world’s highest rated prime time entertainment, drama, serial drama and factual entertainment programmes. FremantleMedia Enterprises is the brand extension arm of FremantleMedia, offering a one-stop-shop for all Licensing, Distribution and Home Entertainment around the world. The FremantleMedia Group (which includes talkbackTHAMES, UFA and Grundy amongst others) has operations in 22 countries, one of the most comprehensive global networks, creating nearly 10,000 hours of programming a year, rolling out more than 60 formats and managing over 300 individual titles. FremantleMedia has some of the world’s most sought after and long running formats in its catalogue, and globally, produces such programmes as: Idols (co-produced with 19 Productions in the US), The X Factor (co-produced with Syco in the UK), Got Talent (co-produced with Syco in the UK and the US), Neighbours, Family Feud, The Price is Right, Farmer Wants A Wife and Hole In The Wall.
Ludia creates and distributes cross-platform interactive entertainment with mass consumer appeal. Located in Montreal and founded by experienced industry players, Ludia's innovative and high-quality product portfolio consists of original and branded properties including The Amazing Race™, American Idol®, The Bachelor & The Bachelorette, Family Feud®, Hell's Kitchen™, Hollywood Squares™, Press Your Luck, The Price Is Right™, Pyramid, Where’s Waldo?® and Who Wants To Be A Millionaire.
For further information:
Blair Metcalfe, Ogilvy PR
Tel: +44 (0) 207 309 1024
Mob: +44 (0) 7740 190901