Time Warner in talks to buy UK's Shed Media

The UK production company, maker of Supernanny and Waterloo Road, has received interest from US medi

Shed Media has confirmed it is in talks with US media giant Time Warner, which has expressed interest in buying the UK television production company. However, there is currently no certainty that an offer would actually be made, Shed has said in a statement.

The British owner of independent producers such as Wall to Wall, Ricochet and Twenty Twenty has a market capitalisation of about £70m. Supernanny, Waterloo Road and New Tricks are some of the popular TV shows it has produced.

Almost a fortnight ago, a management buyout proposal backed by private equity companies Bowmark Capital and Darwin Private Equity, had failed. However, Shed had said it continued to be in an offer period after it received an alternative bid, though it refused to reveal any details.

A Reuters report, citing the Sunday Times, said the deal would be worth £75m.