MUMBAI: UK production house Celador Productions, which developed the Who Wants to be a Millionaire? format, has completed the first stage of a management buyout led by its MD Danielle Lux.

Reports state that Lux's interest in acquiring the company became public after parent company Complete Communications Corporation (CCC) put Who Wants to be a Millionaire?, plus licensing and distribution arm Celador International up for sale last year.

Outgoing Celador Productions chairman Paul Smith is supporting the buyout and will remain a shareholder in the company until his shareholding is purchased in its entirety by the management team. Smith will also keep an ongoing, non-executive role in the company.

In addition to the management buyout team, Celador Productions management includes: Ruth Wrigley, the recently appointed head of entertainment; and Liz Anstee the head of the group's radio interests.

Lux said: "This is an amazing opportunity. It's not every day that a fistful of programmes, including You Are What You Eat and one of Britain's best production companies are landed in your lap. But that is what has happened to us."