Television Corp sized up by smaller rival

The production firm behind Channel 4’s cricket coverage could be bowled over by a rival just a third of its size, it emerged today.

Television Corporation saw its share price leap 13% yesterday after it confirmed it was in takeover talks and was conducting a strategic review of the business.

The potential bidder was today unmasked as Tinopolis, a rival independent producer based in Llanelli in south Wales, which is considering a cash-plus-shares offer.

Tinopolis has so far concentrated its television operations on producing Welsh-language shows and animation, but has stated its intention to expand by making acquisitions.

It employs 145 staff and also has a new media unit offering interactive services and training to clients such as the Ministry of Defence, Scottish Enterprise and the Welsh Development Agency.

But its market value of £12.6m (€18.4m) is dwarfed by Television Corp, which is now worth nearly £30m (€43.7m) following the surge in its share price.

The bold move by Tinopolis comes after its rival suffered a series of setbacks, including the decision by cricket bosses to award coverage of Test matches to satellite broadcaster Sky.

In July, Television Corp issued a profits warning after failing to land any big-money deals with major networks across the Atlantic for its reality shows.

An improving performance in the UK was unable to copensate fully for the loss of business by its Mentorn division across the Atlantic.

Television Corp, which owns sports programming supplier Sunset + Vine and ball tracking system Hawk-Eye, unveiled operating profits on continuing operations of £154,000 in its interim figures last month.

In addition to cricket for Channel 4, its other productions include football for Five and Question Time.