Wark gets £1m from sale of TV production firm

Kirsty Wark, the presenter of BBC 2's Newsnight programme, has received more than £1m from the sale of the independent television production company she started with her husband.

IWC Media, which was created last year by the merger of Wark Clements, the company the couple began in 1990, and another independent, Ideal World, was bought yesterday by the much larger RDF Media, the maker of reality shows such as Wife Swap and Faking It.

RDF paid an initial fee of £8.4m for IWC, based in Glasgow and best known for Channel 4's Location, Location, Location, which could increase to £14m depending on performance. Last year it was the second largest regional television production company. The two companies already have rights and distribution links.

Ms Wark and her husband, Alan Clements, each own 15 per cent of IWC and the couple are expected to net a combined windfall of about £2.5m. Another Scot, Muriel Gray, the former television presenter who set up Ideal World in 1987, will also earn about £1.2m. from the deal. Ms Wark was involved in controversy in Scotland over her friendship with Jack McConnell, the First Minister, who was criticised for going on holiday at her villa in Majorca last year. She was also accused of a conflict of interest after her company made a film about the controversy over the building of the new Scottish Parliament building, despite the fact that she was a member of the panel which chose the architect.

Ms Wark will now end her interest in the company, having been a non-executive director of IWC for some time. Her husband will stay on as creative director.

Last year, IWC made around £20m of programmes. Flagship IWC shows included the Channel 4 comedy series Meet the Magoons and BBC documentary No Sex Please... We're Teenagers.

RDF said that the deal would improve its presence in the growing production market outside London. Chief executive David Frank said: "Broadcasters are under greater pressure than ever to meet regional and national programming quotas.

"The BBC has recently announced that it will almost double its spend outside London in this area by 2012. As a leading independent producer with a genuine regional presence, RDF, with IWC, will be very well placed to exploit these developments."

The deal is the second production company merger this week. Shed Productions, the makers of Footballers' Wives, acquired Ricochet, which produces Supernanny, for £30m. It is also RDF's second acquisition of the year, after it took control of Touchpaper in a deal worth £2.7m in August.

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Media

Recruitment Genius: Media & Advertising Sales Executive

£20000 - £25000 per annum: Recruitment Genius: This national business publishi...

Recruitment Genius: Media Telesales Executive - OTE £25,000

£14500 - £16000 per annum: Recruitment Genius: This is an opportunity to join ...

Guru Careers: Bathroom Showroom Manager / Bathroom Sales Designer

£22 - £25k basic + Commission=OTE £35k + Benefits: Guru Careers: A Bathroom Sh...

Guru Careers: Account Executive / Account Manager

£18 - 20k + Benefits: Guru Careers: An Account Executive / Account Manager is ...

Day In a Page

The long walk west: they fled war in Syria, only to get held up in Hungary – now hundreds of refugees have set off on foot for Austria

They fled war in Syria...

...only to get stuck and sidetracked in Hungary
From The Prisoner to Mad Men, elaborate title sequences are one of the keys to a great TV series

Title sequences: From The Prisoner to Mad Men

Elaborate title sequences are one of the keys to a great TV series. But why does the art form have such a chequered history?
Giorgio Armani Beauty's fabric-inspired foundations: Get back to basics this autumn

Giorgio Armani Beauty's foundations

Sumptuous fabrics meet luscious cosmetics for this elegant look
From stowaways to Operation Stack: Life in a transcontinental lorry cab

Life from the inside of a trucker's cab

From stowaways to Operation Stack, it's a challenging time to be a trucker heading to and from the Continent
Kelis interview: The songwriter and sauce-maker on cooking for Pharrell and crying over potatoes

Kelis interview

The singer and sauce-maker on cooking for Pharrell
Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
Lady Chatterley's Lover: Racy underwear for fans of DH Lawrence's equally racy tome

Fashion: Ooh, Lady Chatterley!

Take inspiration from DH Lawrence's racy tome with equally racy underwear
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Charlie Austin: Queens Park Rangers striker says ‘If the move is not right, I’m not going’

Charlie Austin: ‘If the move is not right, I’m not going’

After hitting 18 goals in the Premier League last season, the QPR striker was the great non-deal of transfer deadline day. But he says he'd preferred another shot at promotion
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea