Manori Ravindran International EditorIn another major M&A coup, Fremantle has taken a majority stake in Irish production company Element Pictures, the producers of “Normal People,” “Conversations With Friends” and “The Favourite.”Element Pictures has grown to become one of Europe’s top drama producers, and is managed by co-founders Ed Guiney and Andrew Lowe, with offices in Dublin, London and Belfast.The deal was spearheaded by Fremantle group COO and continental Europe CEO Andrea Scrosati and Lorenzo De Maio, of De Maio Entertainment.
The deal represents continued investment in European drama from Fremantle, which is owned by Germany’s RTL Group. In August 2021, the German behemoth revealed plans to grow Fremantle’s full-year revenue target to €3 billion by 2025.
In addition to driving the deal, Fremantle-backed De Maio Entertainment — whose founder Lorenzo De Maio has been key in securing major talent deals with the likes of Angelina Jolie for Fremantle — will be a strategic advisor and partner across Element Pictures’ slate, using the company’s extensive experience to “optimize strategy and maximize each project’s impact and success.”Element Pictures’ latest TV project is the BBC and Hulu’s “Conversations With Friends,” a highly anticipated adaptation of author Sally Rooney’s debut book.
The 12-part series was developed and produced by Element Pictures, directed by Lenny Abrahamson and Leanne Welham, and co-written by Alice Birch.
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