Broadcast 18th October Issue 2013

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www.broadcastnow.co.uk

18 October 2013

EXPERT WOMEN

BEHIND THE SCENES

PRODUCTION

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Page 24

Page 22

A breakthrough for BBC News at 10

Taking fixed-rig to the depths of Antarctica

Sky and BBC NHU on trialling Ultra-HD

Merger puts Boom on map Deal with Twofour creates nations and regions supergroup with turnover close to £100m BY CHRIS CURTIS

Boom Pictures executive chair Lorraine Heggessey believes the company’s merger with Twofour Group has created the “go-to producer in the nations and regions”. Broadcastnow.co.uk revealed details of the emerging super-indie’s latest and biggest deal yesterday, which Heggessey said would put it “firmly on the map”. She added that Twofour’s fact ent and entertainment credentials meant the group now had every genre covered. “We wanted to create a company of scale, but not so big it felt disparate or corporate,” said Heggessey. “Twofour grew up in Plymouth and Boomerang in Cardiff, with a similar ambition to be a powerful network supplier. People are going to sit up and take us seriously.” She said the Twofour merger was the equivalent of buying three or four smaller players, indicating that Boom would now go through a period of bedding down and organic growth, rather than chasing more deals. Twofour chief executive Charles Wace agreed, but flagged that the enlarged group was highly ambitious. “We see ourselves as being part of a major, fast-growing business – we’ll have a turnover closing in on £100m,” he said. “Twofour Rights, for example, has been transformative for us. It’s there at the development stage and really understands our shows, and we’ll now have a much bigger catalogue we’ll make the most of.” Accelerating the growth at Twofour’s offices in Los Angeles and Abu Dhabi is also on the agenda.

Twofour and Boom had a shared ambition of being a powerful network supplier Lorraine Heggessey, Boom Pictures

Boom’s new team (l-r): Wace becomes non-exec chair and Leach joins Heggessey and Eurig Davies on the board

Wace will step back to become non-executive chairman of Twofour and a non-exec director at Boom, and plans to take on other advisory roles, most likely outside of TV. His relationship with Boom deputy chair Huw Eurig Davies also helped pave the way for the deal. Davies said: “I’ve known Charles for years, from our time on the Pact N&R Council, and we’ve swapped stories and had similar experiences over the years. The two companies have different skills and contacts, but similar cultures.” He added that a deal of this scale had been “at the front of our minds since we did the Boomerang MBO with Lloyds Development Capital 15 months ago”. Twofour Broadcast managing director Mel Leach and Twofour Digital and Rocket Science manag-

ing director Mark Hawkins will both join the wider Boom board as a result of the deal. Leach said she was hopeful the Boom portfolio of companies would pool expertise. “It will be exciting to tap into the drama and comedy knowledge that Delightful and MainStreet have,” she said. “I could see us collaborating on a big drama doc, and we’d have a better chance with a comedy idea if we had Graham [Linehan] alongside us.” She also expects to invest significantly in the US in the next 12 months, where Twofour is currently working with the likes of Discovery and History. Wace was Twofour’s majority shareholder prior to the deal. Eureka Partners, which held a minority stake, has also realised its investment.

BOOM PICTURES THE INDIE PORTFOLIO Twofour Factual, fact ent and entertainment

Delightful Industries Comedy

MainStreet Pictures Drama

Boomerang Sport and branded content

Oxford Scientific Specialist factual

Indus Films Factual

Boom Pictures Cymru Welsh-language programming


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