[ad_1]
Fremantle has acquired a majority stake in David Glover and Mark Raphael’s 72 Films.
72 is behind factual shows such as the BBC’s doc series The Elon Musk Show, Prime Video’s All or Nothing: Arsenal and Nat Geo’s 9/11: One Day in America. The six-year-old company is considered one of the UK’s most respected unscripted producers.
Financial terms of the deal, which was spearheaded by Fremantle UK CEO Simon Andreae, weren’t disclosed.
BBC Studios previously had a minority stake in 72, but the indie’s founders David Glover and Mark Raphael bought that back last year.
Fremantle has pushing into the global documentary space and the super-indie said today’s deal is part of a strategic plan to invest in and develop key creatively led production companies.
72’s recent productions include The Elon Musk Show, which provides an intimate story uncovering how the new Twitter owner became the world’s richest man and is distributed globally by Fremantle), and the two-part Netflix documentary Jimmy Savile: A British Horror Story.
“At this stage of 72’s development, there are great advantages and opportunities of joining forces with Fremantle,” said 72’s Glover and Raphael in a statement.“Their extensive international infrastructure and expertise will provide 72 Films with the platform to have our work seen across the world. We know and like their excellent team, and they offer us not only fantastic support but complete creative freedom so we can continue to work in the same way.”
Andreae said 72 had “developed an unrivalled reputation for telling the world’s most fascinating stories with real freshness and flair.”
For Fremantle, the deal for 72 follows the acquisitions of The Responder producer Dancing Ledge, scripted Italian firm Lux Vide (Devils, Leonardo), Bosch producer Fabel, Australian-American company Eureka Productions (Parental Guidance, Finding Magic Mike), Hospital producer Label1 (Hospital, Five Guys a Week, Soldier), 12 production labels from Nordic Entertainment Group (now Viaplay Group), and most recently Normal People and Conversations with Friends producer Element Pictures.
Fremantle’s parent RTL Group is aiming to increase Fremantle’s full-year revenue target to €3BN ($3€3BN) by 2025.
72 Films was advised by ACF Investment Bank with commercial support from Matisse.
[ad_2]
Source link