Boom Pictures, a company formed by LDC and former BBC One controller Lorraine Heggessey, has bought media group Boomerang in a £7.1m (€9.08m) deal.
As part of the deal, Boomerang has cancelled its admission on AIM, which is expected to take effect in late August. Boomerang recently expanded its network programmes with the acquisitions of Indus Films and Oxford Scientific Films and has a growing branded content division working with clients that include BT, Bacardi and Red Bull.
Heggessey will become the executive chair of the company, while Huw Eurig Davies, now heading Boomerang, will become the new company's chief executive.
Cardiff-based Boom Pictures will focus on regional programming and will partner with independent television companies.
LDC has some experience in the sector, having exited its investment in Mersey TV to ALL3MEDIA in 2005.