Supernanny and New Tricks television producer Shed Media has agreed a £100 million takeover by Hollywood media giant Time Warner.

The deal is expected to lead to a huge windfall for senior executives of Shed, who own 35% of the business between them.

The company, whose most famous production was ITV's Footballer's Wives, floated in 2005 and in the same year bought Brighton-based Ricochet for £30 million.

It has also snapped up fellow production houses Wall To Wall, Twenty Twenty, as well as distribution company Outright Distribution.

Eileen Gallagher, who founded Shed Media in 1998, has a share of the business valued at £7.5 million while Wall to Wall chief executive Alexander Graham and Ricochet boss Nicholas Powell have stakes worth around £12 million each.

Shed chief executive Nick Southgate's share is worth almost £4 million.

Warner will pay them 50% in cash for their stakes with the remaining 50% invested in the new business through shares and loans.

They will also stay at the helm of Shed, which employs 477 staff in the UK and the US, with offices in London, Brighton and Glasgow.