BBC Worldwide Invests in Lookout Point

LONDON: BBC Worldwide has acquired a 35 percent stake in Lookout Point, and will have a new distribution and co-production agreement with the British outfit for a minimum of five years.

Lookout Point was launched in 2009 as a venture to develop, produce and finance high-end drama. The two first partnered in 2010, and since then they have been involved in a number of major projects together. Lookout Point's titles include Parades End, as well as Ripper Street, Titanic and War and Peace (in preproduction).

Lookout Point’s team will be further bolstered by two new appointments. Saul Venit, BBC Worldwide’s current director of commercial and legal affairs, will leave the corporation’s commercial arm and join Lookout Point as its chief operating officer in November. Seb Shorr will join Lookout Point from Industry Media to work as head of business affairs. Helen Jackson, BBC Worldwide’s chief content officer, will also become a non-executive director of Lookout Point as part of the equity agreement.

Tim Davie, the CEO of BBC Worldwide, said: “Drama is of increasing importance to BBC Worldwide and I look forward to collaborating on a range of ambitious projects through this partnership. The Lookout Point team have a great record, nurturing a culture of creative freedom and championing the best U.K. talent. Their output is of the highest quality, loved by audiences worldwide and we are delighted to be deepening our relationship.”
 
Simon Vaughan, Lookout Point’s CEO, added: "We didn't want to sell our company, we wanted to build it. And we seem to have a unique model—part producer, part distribution company. The deal with BBC Worldwide builds on our established working relationship over the last four years and takes it to the next level. Together we want to build up a significant content company that places its emphasis on the very best global British productions."