FremantleMedia takes quarter stake in Corona TV
DetailsEditor | 13 February 2015
Continuing its recent spate of strategic investments, FremantleMedia is taking a 25% stake in Corona TV, the newly-created TV production company from filmmaker Richard Johns and Rupert Jermyn.
FremantleAiming to bolster its ambition to build its scripted pipeline with projects that will have an epic and cinematic feel and attract international co-production funding, FremantleMedia will now have a first look option on all Corona TV output. Corona TV is a sister company of Corona Pictures, and develops, produces and markets feature films and television programmes globally, including the major established markets and emerging markets such as China. FremantleMedia already has a relationship with Johns and Jermyn, having previously worked on the development of Birds of Prey, a TV adaption of the first three novels of Wilbur Smith's Courtney series.
"We've looked at [Corona TV's] production slate and they have some exciting ideas which are ripe for international co-production funding," commented Sarah Doole FremantleMedia director of global drama, explaining the reasons for the deal. "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."
Added Richard Johns and Rupert Jermyn in a joint statement: "We're absolutely delighted to have made this deal with the dynamic team at FremantleMedia. As film-makers 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."