News Wiggin advises on two new indie TV investments

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Media, technology and IP law firm Wiggin has consolidated its position as the leading UK legal advisor in the independent TV M&A and investment sector after advising on two new high profile deals. The team advised Fullwell 73 on its part sale to Valence Media, and Eleventh Hour Films on its part sale to Sony Pictures Television.

Founded in 2005, Fulwell 73 is a British independent production company run by partners Ben Winston, Leo Pearlman, Gabe Turner, Ben Turner and James Corden. Striving to produce top-quality content, the company is behind productions such as Carpool Karaoke and Drop the Mic, as well as the documentaries Class of 92, I am Bolt and One Direction 3D: This is us. The Company also co-produces the Late Late Show with James Corden.

Under the terms of the deal Fulwell 73 will continue to operate as an independent entity under its existing management structure, led by the five partners. Fulwell 73 and Valence have complimentary expertise and the investment is expected to drive value to both companies as they look to expand their content offerings.

Run by Jill Green, Eve Gutierrez, Paula Cuddy and Nicole Finnan, Eleventh Hour is the producer behind series such as Foyle’s War, New Blood, Safe House as well as the eagerly anticipated adaptation of Anthony Horowitz’s Alex Rider spy novels. The deal comes after Sony green-lit and funded several projects being produced by the indie and will see Sony become the global distributor for Eleventh Hour’s slate.

Corporate group co-head Michael Brader led the team who advised on both deals, assisted by Jason Fisher on the Fulwell 73 transaction.

Wiggin’s corporate practice is a UK leader in the independent TV M&A and investment transactions market. Brader has advised on over 60 deals in the sector, most recently advising Sid Gentle on its sale to BBC Studios, Moonage Pictures on its investment from BBC Studios, Koska on its investment from ITV Studios, Bad Wolf on its investments from Access Entertainment, Sky and HBO, Stolen Picture (Simon Pegg and Nick Frost) on an investment from Sony Pictures, Label1 on an investment from Fremantle, Parable Ventures and Firecrest Films on their investments from Channel 4, Two Brothers Pictures on its sale to All3Media, True North Productions on its sale to Sky, Two Halves Pictures on its investment from All3Media and Access Entertainment on the launch of Benchmark Television, a joint venture with BBC Worldwide and Lookout Point.