The agency, which works with major movie studios and cable and broadcast TV networks, has been part of the Reed Business Information (RBI) group since January 2000.

RBI’s Mark Kelsey said that while the firm continues to perform well, RBI “is increasingly focused on building paid content, whether in data, subscriptions, conferences or events, and we felt that MarketCast could best continue to thrive with existing management and a new owner for whom marketing research is a core priority”.

MarketCast is lead by vice president and general manager Henry Shapiro, who becomes CEO following the sale. Its former boss, managing director Kevin Yoder, joined Twentieth Century Fox as executive vice president of research and strategy in March.

Shapiro said: “There are many opportunities in front of us that we are now in a position to pursue, from continuing our international expansion, to launching new products for our core clients, to migrating into related entertainment sectors, whether through organic growth, acquisition or partnerships.”