Five-year-old Renowned had previously received investment from Channel 4’s Growth Fund, and terms of the agreement see Critical taking over this stake plus an additional shareholding.
Forman and Marcus launched Critical out of the ashes of Relativity Television in 2015, and has quickly established the business as a key international and US producer-distributor.
The investment will see Renowned upping its roster of factual shows in the UK and the US.
Critical CEO Forman and CFO Christoph Pachler will join the Renowned board, with Forman calling the prodco “an ambitious, forward-thinking company”.
Renowned was founded by former radio DJ Duane Jones, Max Welch and Tim Withers. It has produced shows such as BBC Three’s Copwatchers and ITV2’s Pranksters.
Welch, Renowned’s creative director, said: “This strategic partnership with Critical Content, in addition to the investment capital, will allow Renowned to turbo-charge our growth. We have set the stage for expansion in the UK, and are excited to grow our presence in the US in collaboration with Tom and the incredibly talented Critical Content team.”
Jonathan Allan, Channel 4’s commercial director said the broadcaster’s investment was “a blueprint for what the Growth Fund is here to do”.
“In two-and-a-half years we’ve helped Duane, Max and Tim grow their business from new and disruptive market entrants to achieving major success and now launching on the international stage – and the return on our investment will help support our ongoing commitment to the UK wide creative sector,” he added.
TBI Weekly: Our top stories of 2018. tbivision.com/2018/12/14/tbi… https://t.co/rTNhTuJGWn
15th December 2018