C21 MEDIA: Endemol buys $2m stake in Pure Grass Films

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18 Mar 2008

Global production giant Endemol has bought a £1m (US$2m) minority 40% stake in Pure Grass Films, the prodco behind upcoming MySpace/ Hammer online horror series Beyond The Rave, C21 can reveal.

Beyond The Rave (20×5′) is the first new title from the resurrected Hammer Films, and will air on social networking site MySpace.TV from April 16.

Talking exclusively to C21, Pure Grass Films MD Ben Grass said: “We just closed the deal on Friday, and we’re really excited – they’re a fantastic partner.” The Endemol deal values Pure Grass at £2.5m.

“Up until now we’ve just been these four guys working out of a little office in Soho, so we’re really excited about how we can work with them. They’re going to allow us to grow organically though new funding and partnerships, and I think it’s going to be really positive.”

Explaining Endemol’s thinking behind the deal, Grass added that TV companies were increasingly realising the potential of the online medium. “The audience for TV is migrating online and advertisers are migrating with them,” he added.

Endemol UK’s CEO Tim Hincks added: “Our digital strategy is simple – we want to work with creative people who have brilliant ideas.” As part of the deal Hincks and Endemol UK’s MD of digital media Peter Cowley have joined the board of Pure Grass.

Beyond The Rave is Pure Grass Films’ third project, following the Zonemedia made-for-mobile horror series When Evil Calls and mobisode series Urban Defender. The company is spearheaded by Ben and his brother Tom, who serve as MD and creative director respectively.

For more on Pure Grass Films’ forthcoming plans, check out next month’s FutureMedia magazine.