ITV takes 25% stake in production start-up Crackit

LONDON - Dawn Airey's swansong at ITV was the acquisition of a 25% stake in start-up Crackit, founded by Elaine Hackett, former Endemol UK board member and Brighter Pictures managing director.

The investment in the new company, which specialises in making popular factual television, is part of ITV's plan to accelerate growth in its global content arm through investments in production businesses in high -value genres with strong secondary sales potential.

Crackit is currently working with Piers Morgan on his latest BBC One venture, a new commission entitled 'Piers Morgan's The Dark Side of Fame'.

In the past 12 months, ITV has taken equity stakes in UK and US drama producers Mammoth Screen and Jaffe/Braunstein Entertainment and acquired outright entertainment quiz format producer 12 Yard.

Crackit already has a slate of programmes in development with BBC One, Channel 4 and Virgin.

Under the terms of the deal, ITV subsidiaries Granada International will be Crackit's exclusive international distribution and licensing partner.

Hackett said: "The beauty of this new relationship is that it will enable me to retain creative autonomy and my independent status to pitch some cracking factual and entertainment ideas to British broadcasters.

"At the same time it allows me to take advantage of an international sales and distribution operation and have the backing of one of the world's biggest entertainment brands."

John Whiston, director of ITV Productions, said: "ITV is thrilled to be able to play a part in Elaine's new venture; she is one of the most energetic and creative forces in UK production today.

"Our investment in Crackit is the first of several stakes ITV wants to acquire in start-up companies. ITV Productions is giving programme makers the benefits and support of a large organisation but with creative freedom, flexibility and independent ways of working."

The acquisition was Airey's last as ITV's managing director of global content, before she quit ITV to rejoin European broadcast group RTL in a broad-ranging role that includes her chairing UK terrestrial Five.

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