Government Gives All Clear to Discovery/All3Media DealGrants early termination to antitrust review 7/30/2014 11:27:00 AM Eastern
The Department of Justice and Federal Trade Commission are OK with Discovery and Liberty Global's $930 million 50-50 joint venture to acquire All3Media.
That is according to an early termination list released by the FTC Wednesday. That means the government does not have any antitrust issues with the deal that would prompt it to apply conditions or seek to block it in court.
All3Media is billed as the largest U.K. independent production group whose brands include Undercover Boss and Ramsay's Kitchen Nightmares. Mike Fries, CEO of Liberty Global, has described the deal as a smart strategic play given increased competition for content, including non-linear rights.
And there is a lot of content in All3Media.
According to Discovery, the All3Media group comprises 19 production and distribution companies in the U.K., Europe, New Zealand and the U.S. They are Apollo20, Bentley Productions, Company Pictures, IDTV, John Stanley Productions, Lime Pictures, Lion Television, Little Dot Studios, Maverick Television, MME Moviement, Morocco Junction, North One Television, Objective Productions, Optomen, One Potato Two Potato, South Pacific Pictures, Studio Lambert, Zoo Productions, All3Media America and All3Media International.