ITV buys stake in U.S. reality producer for $360

LONDON Wed May 7, 2014 2:19am EDT

LONDON May 7 (Reuters) - ITV, Britain's biggest commercial free-to-air broadcaster, has agreed to buy a controlling stake in U.S. reality producer Leftfield Entertainment for an initial payment of $360 million.

ITV said the deal, which has already gained regulatory approval, would make ITV Studios U.S. the largest unscripted independent producer in the United States. It will be earnings enhancing from day one.

ITV will make an initial cash payment of $360m for 80 percent of Leftfield. (Reporting by Kate Holton)

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