In a deal estimated to be worth GBP 12.5 million, British TV network ITV PLC has bought Big Talk Productions and its associated companies. ITV, whose value is pegged to be at GBP 6.2 billion, is home to Downtown Abbey, a popular period drama. In a press release Friday, ITV said that the initial cash payment will depend on the production outfit's financial performance for 2012/2013. In the next five years, the payments given will be contingent on the delivery of significant profit growth. The acquisition of Big Talk is ITV's latest in their string of recent purchases. They had earlier bought production outfits from the US, UK, and Europe.

Notable shows produced by Big Talk include Friday Night Dinner, Him & Her and Rev. They also produced films, including Shaun of the Dead, Hot Fuzz and The World's End. Some actors own a stake in Big Talk. They are Simon Pegg, Nick Frost and Edgar Wright.