Footballers' Wives firm eyes flotation
The team behind hit television show Footballers’ Wives may be about to net a multi-million pound windfall by floating their company on the stock market, it emerged today.
Shed Productions, which analysts believe could be valued at around £40m (57.9m), is owned by chief executive Eileen Gallagher and its three other founders.
The company announced plans to float on the Alternative Investment Market (AIM) in a bid to expand its programme making capacity and build on the 100 hours of prime time television it has already produced.
Ms Gallagher, Brian Park, Ann McManus and Maureen Chadwick set up Shed after working together at Granada Television. Their big break came in 1998 when ITV commissioned a series of their drama Bad Girls, whose seventh series is due to be broadcast this spring.
Shed is also currently producing the fourth series of Footballers’ Wives, which chronicles the colourful lives of characters such as Kyle Pascoe, played by Gary Lucy.
The show unexpectedly featured in the Archbishop of Canterbury’s last Easter message when he urged Christians to reject the selfish lifestyle portrayed by its stars.
Three new dramas are also due to hit television screens this year – Bombshell, Extra Time and The Fugitives.
The company hopes a flotation on AIM will allow it to take advantage of recent law changes that gave independent production companies the opportunity to hold on to the rights to their programmes.
Ms Gallagher said: “This is an exciting time for Shed and the independent television production sector as a whole.”
New cash would also allow Shed to make selective acquisitions and cash in on industry consolidation.
Unlike many rival companies, Shed has retained the rights all its productions, benefiting from worldwide distribution as well as DVD and video sales.
In its last financial year to August 31, it recorded a 39% hike in pre-tax profits to £3.2m (€4.6m) on turnover of £14.9m (€21.5m).
The group hopes to float some time this spring.
