LONDON – Media, technology and IP law firm Wiggin has advised Parable Ventures on its investment from Channel 4. The broadcaster takes a minority stake alongside the Economist and Stephen Lambert, who has become Parable’s chairman. This investment is part of Channel 4’s Indie Growth Fund.
Parable Ventures was co-founded by the Garden’s former director of programmes David Wise and ex-Economist Films president Nicky Minter Green. Parable will create narrative driven VR content and will be able to work as both a sponsor and a commissioner of original content across the entertainment, brand marketing and training sectors. Parable has already created two 360o documentaries for the Economist and their content offering will soon expand following this investment.
Corporate group co-head Michael Brader led the team who advised Parable and was assisted by Legal Director, Benedict Headicar and Associate, Andrew Lindsay. Wiggin’s corporate practice is a UK leader in the independent TV M&A and investment transactions market. Brader has advised on over 60 deals in the sector, most recently advising Firecrest Films on its investment from Channel 4, Two Halves Pictures on their investment from All3Media and Access Entertainment on the launch of Benchmark Television, a joint venture with BBC Worldwide and Lookout Point.