Founders buy back production company Zig Zag

The founders have regained control of the US division.

The founders of production company Zig Zag - Danny Fenton and Kevin Utton - have bought back the company from Banijay Entertainment, reports the Guardian.

The company - which has produced shows such as Danny Dyer's Deadliest Men, The Cheryl Cole Factor and The Real Football Factories - had been acquired by Paris-based Banijay Entertainment nine months ago in a deal worth about £20m.

Under the terms of the buy-back, the two founders will also regain control of Zig Zag's US division, which has branches in New York and Los Angeles.

International distribution rights of a majority of the company's shows, however, will remain with an affiliate of Banijay.

Fenton said that it was "disappointing that the acquisition hasn't evolved as we all had hoped, but we are pleased this has been recognised early, and we have been able to negotiate a mutually acceptable arrangement that works for both companies."