STV signs series development deal with NBC

Media company STV Group has signed a series development deal with NBCUniversal for "an innovative reality format" in the US.

STV Group said on Wednesday that the format, called the Underdog, will see a cast of conventionally popular contestants compete in a popularity contest. However, amongst the group will be an "underdog" - an "ordinary guy".

The AIM-listed group stated the US rights were secured by Toby Gorman of Universal Television Alternative Studio and Ed Havard of Universal International Studios for development at NBC led by Corie Henson.

STV's Josephine Brassey said: "Primal Media have created another truly genius format which puts a unique new spin on the reality genre, so we're delighted to be working with Toby, Ed and the talented team at NBCUniversal on developing it for the US market.

"This deal is the first secured by our newly combined business and Camilla and I are excited about the potential of our international growth strategy."

As of 1020 GMT, STV shares were up 5.01% at 194.0p.

Reporting by Iain Gilbert at Sharecast.com