U.K.'s Channel 4 Buys Minority Stake in Indie Producer Renowned Films
Former BBC radio host Duane Jones, Max Welch and Tim Withers founded the London-based firm in 2012.
British broadcaster Channel 4 has acquired a minority stake, believed to be less than 25 percent, in independent production firm Renowned Films.
Financial details weren't disclosed. The investment came from Channel 4's $30 million (£20 million) Growth Fund, which it has used to buy stakes in up-and-coming production firms.
London-based Renowned Films was co-founded by former BBC radio host Duane Jones, Max Welch and Tim Withers in 2012 with a focus on innovative factual entertainment shows and documentaries that use "emerging technology and platforms to tell fresh stories to young audiences."
The company's programs have included Sky's Winner’s Circle, which provides behind-the-scenes access to top U.K. soccer stars, branded content series FCUK, which follows Olympic Gold medalist boxer Anthony Joshua, and content for online music platform Vevo, such as interviews with top music stars.
Renowned Films currently has series in development with the likes of BBC Three, ITV and MTV, said Channel 4.
Said Channel 4 CEO David Abraham: "Renowned Films is an exciting addition to our expanding Growth Fund investment portfolio. Duane, Max and Tim are a passionate and ambitious team with an appetite to create compelling formats across both new and traditional media platforms to inspire young audiences globally. We’re looking forward to working with this talented young indie to help push them to the next level."
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