Indie film giant Intermedia is launching into TV with the acquisition of a 24.9% stake in Box TV, the start-up production house run by former Channel 4 executive Gub Neal.
Intermedia will handle worldwide distribution on the bulk of Box TV's projects. Since launching last month, the new outfit has lined up three projects for Channel 4 and is in talks regarding production deals with broadcasters including the BBC, ITV and BSkyB.
Neal runs Box with two other former Channel 4 executives - a team credited with helping define Channel 4's contemporary, edgy feel with shows including Queer As Folk, Psychos and Young Person's Guide To Becoming A Rockstar. In a week when Intermedia shed about 15 London staff in order to bolster US operations, Neal cited the company's worldwide muscle as a reason for the partnership.
'[Intermedia] is the ideal partner for Box and, as a truly global partner in an increasingly global marketplace, will complement our new company both commercially and creatively," he said.