Complete Communications Corporation has confirmed that it has conditionally agreed and signed terms with Dutch company 2waytraffic.
Under the terms of the deal, CCCL chairman Paul Smith will assume the role of executive producer of the UK version of Who Wants to be a Millionaire? and consultant to 2waytraffic. Prior to the completion of the transaction for WWTBAM and Celador International, Smith and his wife will acquire a majority interest in Celador Films, Cat and Mouse and a number of other companies currently owned by CCCL.
In the same period, ownership of Celador Productions will transfer to the company's management in a buyout led by MD Danielle Lux.
"When we were seeking a buyer for WWTBAM and Celador International, our considerations were not purely financial," explained Paul Smith. "Millionaire is very much our baby, so it was a matter of who would best look after it, share our philosophy and believe in it as passionately as we do. I am confident that company is 2waytraffic."