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Published on: January 31, 2024

Two Cities follow-on validates Studios strategy

STV has today announced an increased investment in Two Cities, a leading drama producer into which the group invested in January 2020 (just prior to the Covid outbreak). Two Cities is performing well, with a strong pipeline of series already approved and a £55m secured revenue base over the coming three years. We see this commitment by STV as further proof of the strong and long-lasting growth in the Studios business as a whole. Relatively low-risk (small) investments have been made in a number of areas, and this follow-on deal suggests that the strategy is delivering well.

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