Sky takes majority stake in True North and backs Chrysalis Vision.
Details
Joseph O'Halloran
| 23 January 2017

The chequebook is out yet again at pay-TV giant Sky this time for the acquisition of a majority stake in leading UK indie True North and an investment in drama production company from Chrysalis Vision.

The deals mark the latest expansion of Sky’s production and distribution business over the recent past under the*Sky Vision banner. As part of its plan, Sky has expanded its production capabilities, with a series of investments in select strategic partners, to sit alongside its wholly-owned production business Sky Vision Productions.

Sky Vision will become the commercial and distribution partner for content, worldwide, for both True North and Chrysalis Vision, with the companies benefitting from the expertise of Sky Vision’s international sales teams. Existing terms with other broadcasters and distributors remain unchanged.

Working across a number of genres, True North is biggest factual indie in the North of England, was founded in 2001 and is run by factual producers Jess Fowle and Andrew Sheldon. It has been responsible for series including A New Life in the Sun, Teen Mom UK, Building the Dream, Homes by the Sea, Junior Vets on Call, The Lie Detective and Breaking the Silence Live. Most recently True North has focused on developing popular factual entertainment shows and formats.

The company was previously backed by Channel 4’s Indie Growth Fund*but now that Sky is the majority shareholder, the UK’s fourth largest broadcaster will exits its investment entirely and will plough all returns from its commercial investments back into original UK content and the Fund.

True North *assures that it will remain committed to developing a strong production business in the north of England and grow its bases in Leeds and Manchester. Sheldon and Fowle will stay on as Creative Directors to spearhead the company’s continued growth. The company sees working with Sky will help it achieve its international ambitions.

Sheldon called the move part of a strategy to take the company into the rapidly expanding international market for TV production. “Being aligned to Channel 4 has been a terrific experience,” he commented. “Although they won’t be investors anymore we’re really looking forward to continuing our creative partnership with the channel. We’re now well placed to deliver on a new set of ambitions in the global market.” Other key members of True North’s senior team – including Managing Director Marc Allen and Exec Producer Fiona O’Sullivan, who leads the company’s Manchester operation – will also be staying with the company to help drive international and format ambitions.

Led by CEO Mick Pilsworth who founded the company along with Chris Wright and Roger Parry, Chrysalis Vision*has had a strong track record in producing long-running drama series and boasts a ‘substantial, wide-ranging’ slate in development. “I am delighted to welcome Sky as a shareholder in the business and we all look forward to working with Sky’s Content team, and with Sky Vision, to develop, produce and distribute long-running prime-time television drama series with worldwide appeal and long-term value,” Wright remarked. “This new arrangement gives our team the resources and contacts to take the business forward.”