Sky : and HBO investment in Bad Wolf

Sky and HBO advance production partnership with investment in Bad Wolf

HBO and Sky, have each taken a minority stake and seats on the board of Bad Wolf, further cementing links with the production company launched by award-winning producers Julie Gardner and Jane Tranter.

The deal will see Bad Wolf supplying drama for the recently announced co-production partnership between Sky and HBO, which is aimed at funding large scale dramas for the international television market.

As part of the partnership Sky is investing £1.6m in Bad Wolf and will be represented on the board by Gary Davey, Managing Director of Content.

Bad Wolf launched in 2015 as a transatlantic production company, with backing from the Welsh Government, and is co-sited in Los Angeles and South Wales.

Bad Wolf has already co-produced the Emmy, BAFTA and Golden Globe nominated series, The Night Offor HBO. Other major drama series currently in pre-production include A Discovery of Witches for Sky and the TV adaptation of Philip Pullman's novels His Dark Materials.

The deal underlines HBO and Sky's commitment to investing in world-class content and follows the announcement of Chernobyl, the first project from their international high-end drama co-production partnership.

Notes to editors

1) References to Bad Wolf are to Bad Wolf Ltd

2) Gross assets the subject of the transaction were £1.6m

3) Profits attributable to the assets the subject of the transaction were £nil

4) This announcement is being made in accordance with Listing Rule 10.4.1(1)

5) The £1.6m consideration will be satisfied by way of cash

About Bad Wolf

Bad Wolf launched in 2015 when award-winning producers Jane Tranter and Julie Gardner set up the UK/US production company with backing from Welsh Government. Co-sited in South Wales and Los Angeles, Bad Wolf produces high-end television and film for the global market. In 2017 Access Entertainment invested in the company and Wolf Studios Wales was opened in Cardiff to further develop the television industry in Wales. The Night Of for HBO and Sky was the first Bad Wolf production and His Dark Materials and A Discovery of Witches are both about to start shooting in South Wales.

About HBO

Home Box Office, Inc. is the premium television programming subsidiary of Time Warner Inc. and the world's most successful pay TV service, providing the two television services - HBO® and Cinemax® - to approximately 134 million subscribers worldwide. The services offer the popular subscription video-on-demand products HBO On Demand® and Cinemax On Demand®, as well as HBO GO® and MAX GO®, HD feeds and multiplex channels. HBO NOW®, the network's internet-only premium streaming service, provides audiences with instant access to HBO's acclaimed programming in the U.S. Internationally, HBO branded television networks, along with the subscription video-on-demand products HBO On Demand and HBO GO, bring HBO services to over 60 countries. HBO and Cinemax programming is sold into over 150 countries worldwide.

About Sky

Sky is Europe's leading entertainment company, serving 22.5 million customers across five countries - UK, Ireland, Germany, Austria and Italy. The company has annual revenues of £12.9 billion and is Europe's leading investor in television content with annual programming spend of over £6 billion.

From exclusive partnerships with HBO and Showtime, to Sky Original Productions, Sky offers the best and broadest range of content along with the best viewing experience to suit each and every customer. Whether that's through the multi-award winning next generation box, Sky Q, or Sky's contract-free online streaming service, NOW TV, customers have access to the latest movies, drama, sports and kids entertainment wherever and whenever they like. This is all supported by Sky's best in class customer service.

Sky's success is not just based on what the company does but how it does it. Named as one of the Top 10 Green Companies in the World by Newsweek, one of the world's most recognised rankings of business's environmental performance, Sky ensures its responsible business strategy is embedded right across the group.

Sky has over 31,000 employees and is listed as one of The Times Top 50 employers for women. Sky is listed on the London Stock Exchange (SKY).