Indie television content distributor DRG has taken a stake in factual specialist prodco Double Yellow Television.
The move represents the launch of a strategy that will see see DRG actively looking to invest in start-ups.
Along with acquiring a financial stake in Double Yellow, DRG has also brokered a first-look deal for its projects in development. According to a release, DRG 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 move into DRG’s new offices and creative space in London’s West End later this month.
Double Yellow was founded by Mark Wells (pictured, right) and Glen Middleham (middle), and currently has a slate of projects in development. The company has just delivered its first commission — a soon-to-be announced two-hour doc — to UK net ITV.
Wells and Middleham previously ran Rain Media Entertainment. Before that, they both worked at ITV Studios, where Wells was controller of entertainment and Middleham was executive producer for entertainment.
Between them, the pair’s credits include Ant and Dec’s Saturday Night Takeaway, The Royal Variety Performance, Parkinson and The BAFTA Awards. They also executive produced NBC’s U.S. entertainment series, Hit Me Baby One More Time.
Elsewhere, DRG also announced that it will be opening a new office space for other producers in central London. The drop-in will offer facilities including edit suites and production space, meeting rooms and access to DRG’s international sales and content teams.
“We recognize 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,” said Richard Halliwell, CEO of DRG, in a statement (pictured, left).