Mediawan has acquired a majority 51% stake in British-Australian indie powerhouse See-Saw Films, the high-profile Oscar-winning tastemakers behind hit returning TV shows such as “Slow Horses” and “Heartstopper” and acclaimed, award-winning films including “The Power of the Dog,” “The Son” and “The King’s Speech.”
The news — which is likely to cause a stir in the U.K. industry and beyond and be considered a major coup for Mediawan — is the latest in a hot streak of big-name acquisitions by the thriving European production-distribution group, which took majority ownership of Brad Pitt’s Plan B in late 2022 and struck a partnership with LeBron James’ and Maverick Carter‘s The SpringHill Company shingle last September, as well as bought fast-rising German production and distribution company Leonine last year. It already has a presence in the U.K. with Drama Republic (“One Day,” “The English”), Misfits Entertainment (“Super/Man: The Christopher Reeve Story”) and animation banner Wildseed Studios.
The deal takes See-Saw, which has been independent since it was founded by Iain Canning and Emile Sherman in 2008 and has become a highly sought-after production house, off the market. The company will become a significant asset under Mediawan’s umbrella, having not just amassed industry-wide admiration as one of the most successful and best-known scripted labels working across both film and TV, but accolades including 5 Oscars, 13 Emmys, 5 Golden Globes and 15 BAFTAs.
Under the deal, figures for which were not disclosed, See-Saw has been paid in both shares of Mediawan and cash, following a similar arrangement as with Plan B. As shareholders in their new French owners, Canning and Sherman join an all-star team of producers, including Pitt, Dede Gardner, Jeremy Kleiner and others.
Canning and Sherman will continue as joint CEOs, working alongside See-Saw’s joint managing directors Helen Gregory and Simon Gillis, and Liz Watts, the head of TV and film in Australia. The company also has a staff of over 50 people across development, production, legal and business affairs, finance and marketing.
The See-Saw acquisition comes as Paris-headquartered Mediawan fetes its 10-year anniversary, having been founded in 2015 by visionary indie producer Pierre-Antoine Capton, together with tech billionaire Xavier Niel and financier Matthieu Pigasse. The banner, which now encompasses more than 80 production labels around the world, has become a major force across film and TV thanks to a talent-driven approach that’s been spearheaded by CEO Capton and Elisabeth d’Arvieu, who serves as CEO of Mediawan Pictures.
Last year, Mediawan was behind the second and third highest grossing French films, “The Count of Monte Cristo” (produced by Dimitri Rassam’s Chapter 2) and “Beating Hearts” (produced by Chi-Fou-Mi’s Hugo Selignac), respectively. Plan B has also been lining up hits since joining Mediawan, including Tim Burton’s “Beetlejuice Beetlejuice,” and is behind Bong Joon-ho’s newly-released sci-fi comedy “Mickey 17.”
“We are delighted to welcome See-Saw Films to the Mediawan family. Under Iain and Emile’s leadership, See-Saw has become one of the most prestigious, innovative, and critically acclaimed production companies,” said Capton and d’Arvieu.
“Through this new partnership, Mediawan reinforces its commitment to bringing together the finest talent behind exceptional and impactful content while providing an even more compelling platform for top creative talent worldwide.”
See-Saw’s recent releases include “Apple Cider Vinegar,” the first production from its Australian joint venture Picking Scabs, which peaked at No #3 on Netflix’s global Top 10 chart.
Meanwhile, its hit spy series “Slow Horses” has been renewed for a sixth season by Apple TV+ and dark comedy “Sweetpea” — which launched on Sky in the U.K. and Stars in U.S. last year — is returning for a second season.
See-Saw is currently developing shows based on hit West End play “Shifters” by Benedict Lombe, Francesca Segal’s novel “Welcome to Glorious Tuga” and Harry Trevaldwyn’s debut “Romantic Tragedies of a Drama King.”
On the film front, “Tenzing” — starring Tom Hiddleston and Willem Dafoe and bought by Apple TV+ — is going into production later in the year. Last March, Variety broke the news that See-Saw was working on its biggest project to date, partnering with Michael Ende Productions to bring children’s fantasy classic “The Neverending Story” back to the big screen in a new film series.
“As we celebrate See-Saw’s 18th year, we are thrilled to be entering into this partnership with Mediawan, the extraordinary global powerhouse that Pierre-Antoine and his team have created,” said Canning and Sherman. “This union reflects a shared vision for growth, creative excellence and independence. It will enable us to take our ambitions to new heights and provide us with greater resources for our team and the exceptional talent we work with, as we continue to bring bold, impactful stories to global audiences.”
See-Saw Films/Lionel Guericolas/Alexandre Isard
Speaking to Variety about the deal, d’Arvieu said she wanted producers and talent to feel at home within Mediawan.
“When we make a deal, it’s really because it makes sense,” she said. “This one makes so much sense because our shared DNA and their incredible track record in production in both series and films is exceptional.”
D’Arvieu noted that See-Saw not only had a “strong foothold” in their home markets of the U.K. and Australia, but also enjoyed a fantastic reputation in the U.S. She also compared them to Plan B as a rare breed of company equally recognized for their movies as their TV.
See-Saw and Mediawan also share a “track record in both original creations and adaptation of books and IP’s,” said the executive, who cited See-Saw’s “The Power of the Dog” and “Heartstopper,” as well as Plan B’s “Nickel Boys” and “The Three-Body Problem,” Chapter 2 and Palomar’s respective adaptations of “The Count of Monte-Cristo”, Drama Republic adaptation of “One Day” and the adaptation of “Beating Hearts” by Chi-fou-mi. “Most of all, See-Saw produces a lot of original creations like the multi-awarded Apple TV show ‘Slow Horses,’ which is a huge hit, or ‘Apple Cider Vinegar,’ the latest series they released for Netflix,” she says.
For Mediawan, See-Saw becomes its first U.K. outfit operating in high-profile feature films.
According to D’Arvieu, the acquisition came after a “competitive” process, citing See-Saw’s recent soaring popularity thanks to “Slow Horses” and “Heartstopper.” It was also a long-gestating one that followed a lengthy period of discussions.
“We’ve known each other for a long time and we’ve realized that their vision and everything they develop and the way they work is in symbiosis with what we do, and with our values and our ambition,” she said, claiming that See-Saw likely chose Mediawan over the other bidding companies because of their “common tastes and strategic vision.”
“We’re going to follow the recipe that we tested with other companies that has worked very well, which is to allow See-Saw to retain their creative independence, accompany them in their most ambitious projects and create bonds with our other companies with whom they want to work with,” said d’Arvieu, adding that See-Saw’s alliance with Mediawan will materialize through co-productions, trading formats, co-acquisitions of IPs and distribution of See-Saw productions.
Within Mediawan, See-Saw will be now be in direct contact with producers in 14 countries, alongside a wide-ranging pool of talents, and there are hopes that co-productions will arise alongside its other labels. Recent in-house crossovers developed by Mediawan-owned banners include Jean-Pierre Jeunet’s adaptation of the bestselling novel “Changer l’eau des fleurs” with Leïla Bekhti, which is produced by Italy’s Palomar and France’s 24 25 Films, as well as the multi-adaptation of the hit French series “Call My Agent.”
See-Saw’s decision to partner with Mediawan also underscores Europe’s growing importance for global production.
“The fact that we are a European studio is really a key position because it is a fantastic playground for creation. We have extraordinary shooting locations, topnotch talent who are equally strong in their local territory and internationally, and we have a set of incentives that are extremely favorable to creation. It’s like the perfect storm for European creation,” said d’Arvieu.
The U.K. is “fantastic playground for creativity, in all genres, and it also attracts a lot of filming and so does Australia which is home to such a breadth of talent and is also a hot destination for filming thanks to its soft money schemes and shooting locations,” says d’Arvieu who’s just returned from a trip to Australia with Capton to seal the deal and admits they “fell in love with Sydney!”
See-Saw was advised over the Mediawan deal by media specialists ACF Investment Bank. In November 2024 it was revealed that ACF had been brought on board by the company to field interest in an investment or sale.
