FremantleMedia Takes 25 Percent Stake in Drama Producer Corona TV
The firm was launched by filmmaking duo Richard Johns and Rupert Jermyn.
FremantleMedia said on Thursday that it was taking a 25 percent stake in Corona TV, a newly created TV production company from filmmaking duo Richard Johns and Rupert Jermyn.
The deal gives FremantleMedia a first-look option on all Corona TV output and "furthers FremantleMedia’s ambition to build its scripted pipeline with projects that will have an epic and cinematic feel and attract international co-production funding," the firm said.
The deal was brokered by Fremantle's director of global drama Sarah Doole, who will take a seat on the board of the new company.
Said Doole: "Richard and Rupert have together over 25 years’ experience in producing successful feature films. Because of this, they look at scripted projects in a completely different way from most production companies, bringing a big-screen presence to the small screen. We’ve looked at their production slate and they have some exciting ideas which are ripe for international co-production funding. Having them as part of the FremantleMedia family gives us some brilliant projects for our scripted pipeline, while our existing infrastructure will help bring their epic ideas to fruition. I can’t wait to get started."
Said Johns and Jermyn: "We're absolutely delighted to have made this deal with the dynamic team at FremantleMedia. As filmmakers we have always created big stories for the world rather than one particular market. This move gives Corona Television the strategic financing, distribution and marketing firepower most drama producers can only dream of, allowing us to tell stories for TV on a truly global scale."
Corona TV is a sister company of Corona Pictures, which was founded by Johns and Jermyn in London in 2009. Its releases have included hitman road movie The Liability, starring Tim Roth, and psychological thriller Truth or Dare.