Telescope, the US business of FF&P-backed Harvest Media Group, has been sold in a management buyout backed by HIG Growth Partners and Moorgate Partners.
UK-based Harvest Media provides voting and other marketing services to UK shows such as X Factor. The company moved to the US to take advantage of the fledgling television participation sector and created Telescope, which has a technology platform for public engagement and voting on reality television shows. The company works with major media networks and advertisers.
The UK is an outlier when it comes to creating television formats given the size of its media market. In the first half of 2011, the country supplied 43 per cent of global entertainment formats, more than any other country, according to research by FremantleMedia.
The sale sees FF&P Private Equity score a 1.9 times return on its investment. The financial terms of the deal were not disclosed.