Sheffield's Televideo acquires Leeds Rival
Published: 17th February 2003
Paul Scivill, Televideo Managing Director, with some of his team outside their Sheffield headquarters.
Paul Scivill, Televideo Managing Director at the controls of one of the company's outside broadcast trucks.
Televideo Ltd, the Sheffield-based television production company, has acquired Leeds-based CBF Media in a £1m-deal deal backed by SYIF.
The deal will bring together two companies to provide television production facilities and outside broadcast services for many of UK's top sporting events.
Paul Scivill, Managing Director of Televideo said the deal creates one of the largest independent outside broadcast provider in the North of England, with a combined turnover of more than £5m.
He said: "For many years now, Televideo and CBF have been operating in the same business sector in a highly competitive market. The acquisition makes excellent business sense as the two companies are a very good fit - their different strengths complement each other very well."
The deal was part funded with a £50,000 unsecured loan from the SYIF, which provides help for small and medium sized firms.
Televideo, based at The Riverside in the Lower Don Valley, is a leading provider of outside broadcast facilities in the sports sector with a client list including Sky, ITV Sport, the BBC, Eurosport, MUTV (Manchester United's dedicated satellite TV channel) and several Premier League and Nationwide League football teams.
CBF's client base is split between broadcast and corporate users, with the company's editing facilities, among the most technically advanced outside London. CBF's broadcast sports work includes a contract for horse racing coverage, which is often midweek.
Tony Goulbourn, Chief Executive of SYIF Ltd, said: "We are delighted to have played a part in this important deal for South Yorkshire. The company has an impressive client list and helping it become the largest independent outside broadcast provider in the North is a significant achievement for the Fund."
Mr Scivill said that the two companies have recently been working closely on joint projects, including the supply of all camera crews for Sky Television's Rugby League coverage with post-production work undertaken in Leeds by CBF.
He added that Televideo's intention is to keep the two companies running separately at their different sites and to continue with the existing staffing.
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South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
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