KEW MEDIA GROUP Purchases Stake in Two Rivers Media
TORONTO--(BUSINESS WIRE)--Jan 24, 2019--KEW MEDIA GROUP INC. (“KEW MEDIA,” or “KEW”) (TSX:KEW and KEW.WT) today announced that it has purchased a stake in a newly formed production company based in Scotland, Two Rivers Media. KEW invests in Two Rivers Media alongside Scotland’s Noble Grossart and the UK’s Channel 4. KEW has the option to acquire a controlling stake in the company. The consideration paid for the investment was not seen as material from KEW’s perspective.
Two Rivers Media was formed by Alan Clements, a formidable television executive with over twenty years of experience in the production and distribution of marketable content. Two Rivers Media will produce a diverse slate of content including factual, daytime series and features, entertainment shows and scripted. Mick McAvoy, former head of Documentaries and Factual at STV Production, will head Two Rivers’ factual business, and the company is currently recruiting in other genres.
Steven Silver, KEW MEDIA Founder and Chief Executive Officer, commented, “KEW’s interest in Two Rivers Media demonstrates the continued expansion of our international footprint, as well as our commitment to a broad range of content created by some of the best talent in our industry. We’ve found incredible creative and business partners in Alan Clements, Noble Grossart, and Channel 4.”
Alan Clements, CEO of Two Rivers Media, said, “I am delighted to be launching Two Rivers Media, especially with the backing of three such blue-chip investors. Companies have launched with an international backer, an expert finance team or Channel 4 but never with all three. We share an exciting vision for our production company that is proudly Scottish, but also focused on the UK and international markets.”
Sir Angus Grossart of Noble Grossart, said, “We are delighted to be a part of this very strong partnership, and to work with proven talent of high quality.”
Jonathan Allan, Chief Commercial Officer of Channel 4, stated, “We are thrilled for the Indie Growth Fund to become a part of the Two Rivers Media story. As we prepare to open new creative hubs in Glasgow and Bristol, and a new national headquarters in Leeds, this investment is a further example of Channel 4′s commitment to nurturing and supporting the creative industries in the nations and regions. Alan’s reputation in the industry is second to none, and I am looking forward to seeing the shows that he creates.”
These investments follow the recent announcement of Two Rivers’ first commission, Children of the Devolution, from BBC Scotland. The documentary series will celebrate the 20th anniversary of the opening of the Scottish parliament, as broadcaster Allan Little speaks with people across the country between the ages of 20 and 60, whose lives were shaped by this revolutionary change.
About KEW MEDIA GROUP INC. KEW MEDIA GROUP is a leading publicly-listed content company that produces and distributes multi-genre content worldwide. Companies included in the KEW family are the production companies: Architect Films, Awesome, Bristow Global Media, Collins Avenue Productions, Essential Media Group, 4East Media, Frantic Films, Jigsaw Productions, Media Headquarters, Our House Media, Sienna Films, Spirit Digital Media, and Two Rivers Media; and the distribution companies: KEW MEDIA Distribution and TCB Media Rights.
With primary offices in London, Los Angeles, New York, Sydney and Toronto, the KEW MEDIA GROUP companies develop, produce and distribute more than 1,000 hours of content every year, as well as distribute a library of more than 13,000 hours, to almost every available viewing platform internationally. KEW aspires to offer great content from all over the world to viewers of all ages and tastes. KEW promotes transparency, equality, respect, and inclusiveness and plans to grow with the benefit of people from a wide range of perspectives and backgrounds.
About Noble Grossart Noble Grossart is a merchant bank which has had many material links with the media sector.
About Channel 4 Channel 4 is a publicly-owned yet commercially-funded public service broadcaster and has a remit to be innovative, experimental and distinctive. Its public ownership and not-for-profit status ensure all profit generated by its commercial activity is directly reinvested back into the delivery of its public service remit. As a publisher-broadcaster, Channel 4 is also required to commission UK content from the independent production sector and currently works with around 300 creative companies across the UK every year. In addition to the main Channel 4 service, its portfolio includes: E4, More4, Film4, 4Music, 4seven, Channel4.com and digital service All 4.
About Channel 4’s Indie Growth Fund Channel 4 launched the Indie Growth Fund in 2014 with the aim to nurture the independent sector by providing access to funding for small to medium sized companies based in the UK to help them grow and develop their business. The Indie Growth Fund investment portfolio includes nine UK-based businesses: Barcroft Media Group, Eleven Film, Firecrest Films, Lightbox, Parable, Spelthorne Community Television, The RightsXchange (TRX), Voltage TV and Whisper Films. The fund continues to take submissions from companies who can register their interest by contacting email@example.com.
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PUB: 01/24/2019 06:00 AM/DISC: 01/24/2019 06:01 AM