DRG invests in Double Yellow

UK distributor DRG has taken an equity stake in Double Yellow Television, a new factual and entertainment-focused indie set up by the founders of Rain Media Entertainment.

Glen Middleham and Mark Wells

DRG, part of the Modern Times Group (MTG)’s Nice Entertainment Group, said the move marked a new strategic shift for it that will see the company look to invest in further start-ups.

Double Yellow was founded in 2016 by creative directors Mark Wells and Glen Middleham, who previously ran UK indie Rain Media and before that were both execs at ITV studios.

Between them their credits include Ant & Dec’s Saturday Night Takeaway, The Royal Variety Performance, Parkinson and NBC’s Hit Me Baby One More Time in the US.

Double Yellow has a variety of projects in development, from big entertainment shows to formatted factual and documentary programming. The company’s first commission falls into the latter category and will be announced soon by ITV.

In return for taking the undisclosed financial stake in Double Yellow, DRG gets a first-look distribution deal for its projects and the business will move into DRG’s new offices in London’s West End later this month.

“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,” said DRG CEO Richard Halliwell.

“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.”

DRG is also opening up its new office space to other producers, offering a central London ‘drop-in’ location for creatives with facilities including edit suites and production space, plus access to DRG’s international sales and content teams.

Last week, DRG was set to become part of Danish telecoms firm TDC Group as part of a SEK19.6bn (US$2.5bn) deal for parent MTG Nordics, but that deal was thrown into disarray earlier this week when TDC itself became the subject of a takeover.