Shed Media: we're already half-way to our annual TV revenue target

Shed Media, the independent producer behind Supernanny and Waterloo Road, said today that it has already secured more than 50% of its revenue target for TV production this year, despite challenging market conditions. It added that it was still in discussions with the London-based private equity groups Bowmark Capital and Darwin Private Equity over a management-led takeover, details of which were revealed in December . Shed said that the company traded well last year and the board expects full-year figures to be in line with market expectations. "Although it is still early in the current financial year and market conditions remain challenging, visibility is good with 54% of group production revenue target commissioned and 30% of group IP [intellectual property] revenue secured," the company said in a trading update. Exploitation of intellectual property and the selling of rights to third parties is handled by Shed subsidiary Outright Distribution. Shed said that last year it created 246 hours of programming, comprising 38 hours of drama and 208 hours of factual content. UK production accounted for 61% of hours of output, with most of the rest for US broadcasters. • To contact the MediaGuardian news desk email [email protected] or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. • If you are writing a comment for publication, please mark clearly "for publication".