BBC Worldwide Ups Stake in War and Peace Producer Lookout Point

LONDON: BBC Worldwide has strengthened its ties with Lookout Point, producer of such successful dramas as Ripper Street and Andrew Davies’ adaptation of War and Peace, now taking a 49 percent stake in the company.

BBC Worldwide and Lookout Point began their relationship in 2010 with a first-look distribution deal. This developed into a co-venture agreement for production financing and distribution and subsequently an initial equity relationship in 2014 with BBC Worldwide owning 35 percent. This has now been upped to a 49 percent shareholding, which will enable BBC Worldwide to support Lookout Point in its next phase of development.

Lookout Point is looking to expand to produce and launch a number of new high-profile productions, continuing its evolution from co-producer and arranger of finance to global producer. As part of the deal, the two companies have also agreed to an option whereby BBC Worldwide may take on full ownership of Lookout Point in the future.

Simon Vaughan, the chairman and joint CEO of Lookout Point, said: “The expanded stake that BBC Worldwide has now taken in the company gives Lookout Point further stability and commitment to progress our growth plans, whilst allowing us to retain our independence and entrepreneurial spirit. Over the years we have proven that working with BBC Worldwide together results in bigger and better projects. Since Faith Penhale joined the company as my joint CEO in February, we have made a quantum leap forward and sincerely believe that the best is yet to come.”

Helen Jackson, BBC Worldwide’s chief content officer, said: “The drama genre now accounts for around half our investment and half our sales, and our appetite for high-end scripted British content shows no sign of diminishing. Lookout Point has been part of the BBC Worldwide family for over five years now, and with its increasing focus on its own production capability, this is a logical progression of the close partnership we first forged in 2010. This is exciting news for creators and lovers of British drama across the world.”