Founder sells majority stake in Red Production to French media giant

ONE of the region’s leading TV production companies, responsible for Queer as Folk and Scott & Bailey, has sold a majority stake to French media group  CANAL+ Group.

Based at MediaCity, Red Production Company, was founded in 1998 by Nicola Shindler, who is remaining with the business along with MD Andrew Critchley. Prior to the deal Miss Shindler owned 95% of the £5m turnover business.

CANAL + subsidiary StudioCanal has taken what it describes as a strategic stake in Red, and plans to build on its success by developing new UK productions as well as “facilitating new, ambitious international series.”

Nicola Shindler, founder and executive producer said: “When I first set up
Red in the late 1990s I wanted to work with the best writers in the industry to produce the very best drama content. This is still my priority and the day-to-day running of the company will be unchanged.

“The significant investment from Studiocanal gives us at Red the opportunity to meet our growing ambitions without compromising the core values of the company.

Olivier Courson, chairman and chief executive of StudioCanal added:“Partnering with RED is a step forward in positioning StudioCanal as a European leader in content production. Nicola Shindler’s strong track record of developing acclaimed and popular British TV series is the perfect fit for our ambition to develop British and international content out of the UK.”