Sky Invests In UK Production Companies True North And Chrysalis Vision

LONDON (Alliance News) - Sky PLC said Monday it has acquired a majority stake in UK independent ...

Alliance News 23 January, 2017 | 9:42AM
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LONDON (Alliance News) - Sky PLC said Monday it has acquired a majority stake in UK independent production company True North Productions Ltd and has invested in drama production company Chrysalis Vision Ltd.

True North, run by Jess Fowle and Andrew Sheldon, is headquartered in Leeds, and is responsible for titles including 'A New Life in the Sun', 'Teen Mom UK' and 'Homes by the Sea'. It was previously backed by Channel 4's Indie Growth Fund, and with Sky becoming the majority shareholder, Channel 4 will exit its investment entirely, Sky said.

Sky also invested in Chrysalis Vision, founded by Chris Wright and led by Mick Pilsworth, headquartered in London.

Financial details of both transactions were not disclosed.

"Were excited to be investing in True North. Jess and Andrew have a fantastic reputation for creating and delivering high quality returnable series. We're also delighted to be working with Mick and Chris, who have a great track record in building successful, creative businesses, and the whole team at Chrysalis Vision which will bolster our drama ambitions," said Managing Director of Sky's production arm Sky Vision Jane Millichip.

Shares in Sky were up 0.1% at 1,000.00 pence Monday.

By Hana Stewart-Smith;; @HanaSSAllNews

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