STV to invest in Kowalski Television Ltd.
STV has announced that it has become a partner in the Scottish Co-Investment Fund (SCF) which is spearheaded by Scottish Enterprise. STV’s first contribution to the new initiative will be its investment in a new start-up production company, Kowalski Tel
The SCF, a £72million equity investment fund established by Scottish Enterprise, aims to invest between £100,000 and £1million in company finance deals of up to £2million. STV has identified Kowalski Television as an opportunity to invest £125,000 – an investment which will be matched by the SCF with each holding 25% of the new business.
Headquartered at the STV base at Glasgow’s Pacific Quay, Kowalski is looking to win commissions from a range of broadcasters in the factual entertainment genre. Kowalski is headed up by Simon Howley (previously executive producer with Firefly Productions and having produced documentaries for Channel 4, Channel Five, Discovery and Sky), and a development producer and a shooting development assistant producer will be put in place to complete a start-up team of three.
Commenting on the news, Andrew Sloane, senior investment manager at Scottish Enterprise, said: “This is an exciting time for the Scottish Co-investment Fund and we are thrilled to welcome STV on board as a new investment partner. The deal with Kowalski marks our first venture into the world of TV production/programming and we look forward to exploring similar markets with STV and other partners.”
This latest announcement by STV follows last week’s announcement that head of marketing, Hari Farzin is to depart and its recently undergone brand refreshment – the new station idents for which can be seen on air from today.