Exclusive: Details emerge over Great Point Media’s administration

Small Axe

Further details have emerged over the administration of TV & film finance firm Great Point Media (GPM), with more than a third of its workforce already made redundant.

Administrator Grant Thornton took control of the business in 26 March, a month after the death of Great Point founder Jim Reeve. It immediately let go of around 12 members of its 30-strong staff, who had been due to be paid on 28 March.

Jim Reeve

Employees who exited the business at that stage are understood to have not received their salaries for March and will likely only be due statutory redundancy pay.

Administrators are now working with remaining staff to wind down the company, which has helped to finance a raft of TV shows ranging from Channel 4’s Brexit: The Uncivil War, BBC drama Small Axe and ITV’s Doc Martin.

It has also supported numerous films, with projects including last year’s Asteroid City and Rogue Agent in 2022.

The company, which reported £20m revenue in 2023, operated an Enterprise Investment Scheme (EIS) named Great Point Ventures Fund, which backed firms including data outfit Looper Insights as well as numerous production firms.

TBI understands that the entirety of GPM is now being wound down, including finance arm Great Point Investments (GPI), which has ploughed more than £50m ($62m) into TV shows and films over the past two years alone.

The division, which is regulated by the UK’s Financial Conduct Authority (FCA), had been left with only one director – COO Kok-yee Yau – after the December exit of MD Dan Perkins and Reeve’s death, aged 64 in February.

Doc Martin

Sources have told TBI that company insiders believe that the GPI division could remain a viable business. However, FCA rules require at least two directors to be in place and only existing directors are able to appoint fellow directors.

News of Great Point’s administration comes amid a turbulent time for the industry as streamers and broadcasters cut back on spending, pushing companies ranging from Moneybags firm Youngest Media to The Clangers prodco Factory Transmedia out of business.

London-based Great Point had been founded by Reeve and Robert Halmi Jr in 2013, growing to become an established financing outfit for many independent TV and film producers, supporting projects from production through to delivery.

Halmi Jr left the business in 2018 and Reeve took on majority ownership of the company. Its sudden closure, however, has left staff with few options. Administrator Grant Thornton has advised affected employees to put in claims against the company for unpaid work.

These would be payable via funds gained from the company’s liquidation, however employees are not expected to be among the first in line among creditors.

TBI has contacted Great Point Media and Grant Thornton for comment.