C4 buys stake in Firecrest

The UK’s Channel 4 has continued its investment in the UK indie production sector by taking a minority stake in Glasgow-based Firecrest Film.

Nicole Kleeman

The latest move by the broadcaster’s Indie Growth Fund provides backing for the company that was set up by Nicole Kleeman in 2008 with a focus on current affairs.

Having already produced content for the BBC, Channel 4 and ITN, Firecrest will use the funds to expand its creative team and increase its range of factual programming across UK broadcasters.

During the past 18 months the company has expanded into features, documentaries and specialist factual. It produced the Supershoppers format for Channel 4, The Secret Life of Your Clothes for BBC2 and a number of films for the BBC’s Panorama series.

Prior to setting up Firecrest, Kleeman worked at the BBC as a producer on Panorama, Newsnight and The Culture Show, among others.

C4 set up its indie fund with £20m (US$33m) in March and appointed former Nutopia MD and Vice exec Laura Franses to run it soon after. It has since invested in firms including Barcroft Media, Lightbox Media, Renowned Films, True North Productions and Voltage TV.

David Abraham, CEO of Channel 4, said: “Nicole’s track record in delivering critically acclaimed content that has led the national news agenda demonstrates the creative talent we have across our nations and regions.

“Investing in an impressive Scottish producer such as Nicole builds on Channel 4’s on-going commitment to develop a UK-wide creative industry with a focus on growing businesses outside of London to ensure TV better reflects the stories and lives of people right across the UK.”