British distributor DCD Rights has secured a deal with its stakeholder Timeweave to create a fund for the acquisition of third-party distribution rights.
The move positions the independent distributor to build up a “significant library of content,” Timeweave CEO David Craven said in a statement, including the 26 hours of new content the company is bringing to the MIPCOM TV market in Cannes this month.
The first projects acquired under the deal include factual rescue series Coast Guard Florida (pictured) and the second season of Coast Guard Alaska, both of which are produced by U.S. shop Al Roker Productions.
“This fund will be enormously beneficial to increasing our presence in the marketplace as a major distributor and will allow us to expand our footprint in a more aggressive way than previously,” said DCD Rights CEO Nicky Davies Williams.
“Under our previous funding arrangements in place in the last three years, DCD Rights had acquired over 350 hours of programming and the intention is to significantly increase our investment under the new agreement.”
In the past, DCD Rights has used its investment capacity to partner with producers on series such as the Matchbox Pictures-produced scripted drama The Slap.
Timeweave has an investment program to acquire and invest in growth opportunities in specifically targeted sectors, including media.