12 Yard Productions, the entertainment indie founded in 2001 by two of the execs behind The Weakest Link, is set to close.
ITV Studios, which bought the company for £35m in 2007, said it had taken the “difficult” decision following a review of the business.
The current 12 Yard team could make a counter-proposal but for now, the company is expected to wind up by the end of the year.
ITVS is in consultation with staff at the indie, which is led by Michael Mannes and Liz Gaskell.
”Many people in television were nurtured and their careers supported by 12 Yard,” ITVS said in a statement.
“Our primary focus at the moment is to support the team during this difficult time.
“The decision to enter consultation has not been taken lightly. Many factors were taken into consideration, including where synergies could be made and, not least, past and changing market conditions.”
12 Yard’s current slate includes Channel 5’s Eggheads and More 4’s Popmaster, which recently secured a two-series recommission.
The indie is expected to complete production on Popmaster as well as a one-off Bullseye revival for ITV, fronted by Freddie Flintoff.
From there, all of 12 Yards’ shows and IP will be transferred to other ITVS companies.
ITVS is retaining an unscripted base in Glasgow, where Popmaster is made, while upcoming Netflix series Cheaters: Unfinished Business, which began as a 12 Yard original idea, will be completed by co-producer, and fellow ITVS label, Lifted Entertainment.
12 Yard was founded by former BBC head of light entertainment David Young and ex-head of development at BBC Entertainment Andy Culpin, both of whom have since left the company.
Hat Trick Productions initially had a 50% stake in the business.
