ITV Studios Acquires ‘Valeria’ Producer Plano A Plano
ITV Studios (ITVS) has bought another European scripted producer.
The production and sales arm of UK network ITV has paid an undisclosed amount for a majority stake in Spain‘s Plano a Plano, known for the likes of Netflix’s Valeria, Mediaset’s El Principe and recently launches Disney+ series Suspicious Minds.
Plano a Plano is also behind the upcoming Netflix series All the Truth Behind My Lies (Toda la Verdad de Mis Mentiras), a miniseries based on the Elísabet Benavent novel, and is working on a debut feature film, La Tregua, for Spanish pubcaster RTVE and Netflix.
Company was founded in 2011 by César Benitez, who runs the business with CEO CEO Emilio Amaré and Executive Producer Álvaro Benítez. They will continue to run Plano a Plano out of Madrid and Bilbao, reporting to ITVS’s London-based Lisa Perrin, who is Managing Director, International Production.
“After admiring César, Emilio and Álvaro’s work for many years, I am so delighted that they have accepted our offer to join ITV Studios,” said Perrin. “They bring such incredible skill, creativity and relationships. The Spanish language scripted market, built on a heritage of cinematic skill, continues to grow from strength to strength. It’s burgeoning with opportunity including high demand from viewers and clients in Spain and globally.”
“This partnership reflects a shared vision for growth and creative excellence,” added César Benítez, Amaré and Álvaro Benítez in a statement. “It offers resource and experience for the many opportunities ahead to tell more stories on a broader canvas. We are excited for what the future holds with ITV Studios.”
César Benítez is known for founding Cristal Producciones Cinematógraficas, which became a major player in Spanish TV and film, along with BocaBoca Producciones, which is now part of TF1 Studios-owned iZen Group. His credits include police series El Comisario, youth soap opera Al Salir De Clase, films such as Planta 4ª, Nos Miran and Boca A Boca. At Plano a Plano, they include El Príncipe and Allí Abajo.
Amaré is a former Globomedia and MOS financial chief who joined Plano a Plano in 2013 and became General Manager and partner in 2016. Álvaro Benítez joined his namesake’s firm as partner in 2018, initially managing the Business Development and International Relations Department before exec-producing the likes of Cicatriz, La Tregua and Innato.
In Spain, Plano a Plano will sit alongside unscripted label ITVS Iberia and scripted label Cattleya Producciones, which are both led by Managing Director Nathalie Garcia. More broadly, it is joining scripted producers such as Moonage Pictures, Eagle Eye Drama, Hartswood Films, Quay Street Productions, Happy Prince and Poison Pen Studios in the ITVS stable.
Prior to today’s deal, ITVS most recent foray into the lukewarm European M&A market was a deal for Sherlock producer Hartswood.
Speculation continues about the future ownership of ITV, which has been pursued by the likes of RedBird IMI and Banijay, and producers remain nervy about how things will shake out. The prize for a potential buyer is ITVS, which made a record profit of £300M ($406M) last year and whose value is believed to eclipse that of the channels business.
Hasham Khan at ABP Advisory advised Plano a Plano on the transaction.
