The deal means that BBC Studios is exiting Two Cities, with STV Productions — which recently made BBC One’s Glenda Jackson drama Elizabeth Is Missing — effectively replacing it as a minority shareholder. STV has the option to turn its equity holding into a majority stake over the next three years.
Two Cities was founded in 2016 and is led by Michael Jackson, the former BBC One controller, Channel 4 CEO and Universal Television chairman, and former Line Of Duty and The Fall executive producer Stephen Wright. It made Benedict Cumberbatch drama Patrick Melrose in 2018 and is currently developing an adaptation of Michael Wolff’s Donald Trump book Fire and Fury in partnership with Topic Studios.
STV Productions managing director David Mortimer said: “Two Cities has an exciting development pipeline and our respective businesses are uniquely positioned to serve the growing demand for Nations production in the UK, with potential to extend this internationally.” Jackson and Wright added that STV Productions is a “business that feels totally in tune with our own.”
Two Cities was advised by Tom Manwaring, a partner at broker Helion Partners.
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