INGENIOUS Media Active Capital, a London-based media investor, has sold the TV rights company that distributes shows including The Inbetweeners and Stephen Fry’s Kingdom.
Digital Rights Group (DRG) was bought by Swedish media giant Modern Times Group (MTG) for £15m, the companies announced yesterday. Ingenious will receive £13.2m for its 76.4 per cent stake, while the remaining £1.8m has been paid to DRG’s management.
MTG, which owns TV and radio channels in Europe and Africa, said it would hire DRG founder Jeremy Fox as chief executive. Ingenious shares rose over 50 per cent.