Sky invests in UK production companies24 January 2017
Sky has acquired stakes in UK production companies True North and Chrysalis Vision.
The pay-TV giant has taken a majority stake in True North, which is behind programmes such as Teen Mom UK, Junior Vets and A New Life in the Sun.
True North founders Jess Fowle and Andrew Sheldon will remain with the production company following the investment, as will managing director Marc Allen and executive producer Fiona O’Sullivan, who runs the firm’s Manchester base.
Minority shareholder Channel 4 is cashing out as a result of the deal.
Sheldon said, “Being aligned to Channel 4 has been a terrific experience. Although they won’t be investors anymore, we’re really looking forward to continuing our creative partnership with the channel.
“We’re now well placed to deliver on a new set of ambitions in the global market, and we think Sky are the perfect partners to help achieve that.”
Sky’s exact stake in Chrysalis Vision – the drama production vehicle set up by Chris Wright and Mick Pilsworth – has not been disclosed.
“I am delighted to welcome Sky as a shareholder in the business and we all look forward to working with Sky’s Content team, and with Sky Vision, to develop, produce and distribute long-running prime-time television drama series with worldwide appeal and long-term value,” said Wright.
“This new arrangement gives our team the resources and contacts to take the business forward.”
Sky Vision will now be commercial and distribution rights owner to both companies.