Warner Bros. Television Group has completed its acquisition of a majority stake in the U.K. independent production and distribution company Shed Media.
The deal, which has been valued at around £100 million ($160 million) and was originally announced this summer, marks a major expansion of the studio's efforts to produce programming outside the U.S.
In recent years, all of the international TV divisions of major studios have moved to expand their international format and local production businesses as a way of supplementing their much larger efforts to sell U.S. TV and movie programming to international broadcasters and channels.
Sony already owns production companies in a number of European and Asian countries and the Shed deal indicates that Warner Bros. is also looking to develop a group of international production companies. Most of the other studios are actively selling formats of their shows to international channels but have not as of yet acquired or started local production companies outside the U.S.