UPDATE 3-Shed Media says in talks to sell itself to Time Warner

* Says in talks with Warner Bros Entertainment

* Says no certainty of offer or its terms

* Shares up 5.8 pct
(Recasts; updates share movement)

BANGALORE, June 21 (BestGrowthStock) – British television
production company Shed Media (SHDP.L: ) on Monday confirmed it
was in talks to sell itself to Warner Bros Entertainment Inc, a
unit of Hollywood media group Time Warner (TWX.N: ).

The Sunday Times had reported that Time Warner planned to
acquire Shed Media, the maker of shows such as Supernanny and
Footballers’ Wives, for about 75 million pounds.

There was no certainty of an offer or its terms, Shed Media
said in a statement.

It declined to comment further on the deal.

Last year, the company had received an indicative offer
approach from a consortium formed by funds managed by Bowmark
Capital LLP and Darwin Private Equity LLP, which was working
with certain members of Shed’s management.

Shed Media, on June 8, said it had ended offer talks with
the two private-equity funds, but continued to be in an offer
period following a proposal from a potential suitor.

On April 7, the company posted a 24 percent rise in
full-year pretax profit, helped by lower finance costs, and
said 2010 had begun well. [ID:nSGE636083]

Shed Media shares, which have gained about 12 percent in
the past six months, were trading up 5.8 percent at 82.5 pence
at 1215 GMT.

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(Reporting by Tresa Sherin Morera in Bangalore; Editing by
Aradhana Aravindan)

UPDATE 3-Shed Media says in talks to sell itself to Time Warner