DRG takes stake in Double Yellow Television

DRG (USA) announced that it has taken an equity stake in production company Double Yellow Television, kick-starting a new strategy that sees it actively looking for talented, good-fit start-ups in which to invest.

Double Yellow Television is a production business specialising in factual, factual entertainment and entertainment programming and was established by respected creative directors Mark Wells and Glen Middleham. Between then, Mark and Glen have many years of production experience – they previously ran Rain Media Entertainment and prior to that were both at ITV Studios where Mark was controller of entertainment and Glen was executive producer for entertainment. Between them they have produced some of the biggest titles on British television, including Ant and Dec’s Saturday Night Takeaway, The Royal Variety Performance, Parkinson and The BAFTA Awards. They also executive produced NBC’s number one series in the US, Hit Me Baby One More Time.

The company has a varied slate of projects already in development: the business is continuing to use Mark and Glen’s expertise for creating big, ambitious entertainment shows but it is also drawing on their recent experience to pursue a clear factual focus, producing formatted factual and documentary programming. The company has just delivered its first commission, a soon to be announced two-hour documentary for ITV.

While DRG has acquired a financial stake in Double Yellow, the company has also negotiated a first look deal for its projects in development and is committed to providing a hands-on incubation role, delivering financial and business support as well as its extensive expertise of the international market. As part of the new deal, Double Yellow will also be moving into DRG’s new offices/creative space in London’s West End later this month. This means the start-up can make full use of existing back office support and keep production costs to a minimum, while still taking advantage of the deficit finance DRG offers.

Richard Halliwell, CEO of DRG commented: ‘Mark and Glen are an incredibly talented duo and in Double Yellow they have created just the sort of content business that DRG believes in and is keen to support with investment: small, nimble, well-connected, very creative and with an inherent feel for what works and what doesn’t across a range of genres. The fact that we can grow our relationship in a new creative space is also very exciting; being able to talk face-to-face on a daily basis will be a huge advantage in getting the best shows commissioned and financed, as well as placed with the right broadcasters and platforms internationally. As we evolve into a more rounded content business we are keen to invest in more producers like Double Yellow Television and are now actively looking for new partners’.

Mark Wells at Double Yellow Television, added: ‘DRG is an exciting company to partner with: entrepreneurial, forward-facing and fully understanding of the needs of a new production business. The team has been extremely supportive during our development period, and we’re looking forward to collaborating in the next phase of our partnership’.

DRG launches new creative space for producers
DRG also announces that it is opening up its new office space to other producers, offering a central London ‘drop-in’ location for creatives – with no strings attached. The impressive facilities include edit suites and production space, as well as desks and meeting rooms, and of course access to DRG’s international sales and content teams.

Richard Halliwell completed: ‘We are lucky to be moving to very spacious, central premises and we will be encouraging both our current producer partners, as well as other indie content businesses, to ‘drop in’, use the space and take advantage of the support we can give to creatives. We recognise that starting-up can be daunting, lonely and expensive. Our plan is to finance and offer everything from coffee and a desk to broad-based business support. We hope that producers will also meet each other here and share experiences.’