Member Article

Channel 4's £20 million Growth Fund takes a stake in Leeds' True North

Channel 4 has acquired a minority stake in True North, a Holbeck-based independent production company.

True North makes programmes for broadcasters such the BBC, Channel 4, Five, MTV, National Geographic, Discovery Channel, UKTV and China’s CCTV9 and employs 130 people.

True North was one of four selected for investment from the broadcaster’s £20 million growth fund and is the only one outside of London. It is also taking minority stakes in Arrow Media, Lightbox and Popkorn.

The deal sees the departure of creative director Glynn Middleton, one of the three former Yorkshire Television producers who co-founded the company in 2001.

The spokesman added the funding will “underpin True North’s plans for continued creative development and build on the success which has seen it increase turnover by more than 40% in the past two years”.

Andrew Sheldon, a director and co-founder, said: “We’re confident that entering into a partnership with Channel 4 will be a game changer for True North.

“Television is a mercurial business, and having a world class broadcaster as a stakeholder will be an enormous advantage as we grow the company nationally and internationally in such a rapidly changing environment.”

This was posted in Bdaily's Members' News section by Clare Burnett .