HBO, Sky Take Stakes in 'Night Of' Producer Bad Wolf

'The Night Of'

The investment is part of the networks' co-production deal aimed at financing big-budget drama.

HBO and British pay-TV giant Sky have announced they will each take a minority stake in British production company Bad Wolf, the group behind hit series The Night Of.

Glenn Whitehead from HBO and Gary Davey from Sky will take seats on the board of Bad Wolf, founded in 2015 by BBC veterans Jane Tranter and Julie Gardner. Len Blavatnik’s Access Entertainment took a 24.9 percent stake in the company earlier this year.

The deal is part of the recently announced co-production deal between HBO and Sky, aimed at funding large-scale TV dramas for the international market. Chernobyl, a five-part miniseries about the infamous nuclear disaster, starring The Crown's Jared Harris, will be the first project under the new agreement.

Bad Wolf co-produced The Night Of for HBO. The crime drama, starring Riz Ahmed and John Turturro has received Golden Globe, BAFTA and Emmy nominations.

Bad Wolf, based in Los Angeles and South Wales, has several projects in preproduction, including a TV adaptation of Philip Pullman's fantasy series His Dark Materials and A Discovery of Witches for Sky.

Sky has committed to boosting its investment in original productions by 25 percent. The U.K. network has had recent success with home-grown originals such as Guerrilla, Jamestown and Riviera.