Yahoo Finance Asylum Entertainment Group Strikes Deal to Invest in DARE Pictures (EXCLUSIVE)
Non-scripted production company Asylum Entertainment Group has taken a stake in London-based Dare Entertainment, the companies announced Monday. Under the deal, DARE (which stands for “Diversity, Allyship, Representation, Empowerment”) Pictures will use the investment to expand its development, while its current angel investors Rosegown will exit the business.
DARE founder/CEO Derren Lawford will continue overseeing the company, which focuses on TV, film and podcasts. DARE’s credits include non-scripted projects like “Crypto Queen: Visionary, Victim or Villain?” and “Dalton’s Dream,” as well as “The Secrets of UK Prisons.” Michelle Morgan remains the chair in DARE’s new board structure, and becomes company director and minority shareholder of the business.
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Meanwhile, launched by Steve Michaels, Asylum Entertainment Group — part of Endeavor’s non-scripted content group — is behind television, features, documentaries and unscripted series including “30 for 30,” limited series “The Kennedys” and documentary “How I Caught My Killer.”
“Derren and his studio exemplify the vision and trajectory we value at Asylum,” Michaels said.“His enviable track record and diverse interests make him an ideal partner, and we are honored to become an essential part of DARE’s continued growth.”
Lawford’s credits include helping launch two UK television channels, as well as BBC’s SVOD Global iPlayer and the first Black national radio station in the UK, 1Xtra. Before DARE, Lawford was behind the BAFTA Award-winning short film “The Black Cop” and executive produced the Netflix films “Generation Revolution,” “Mandela, My Dad and Me” and “Cut from a Different Cloth.”
“Asylum has an undeniable passion to reach audiences through its distinct and impressive IP, a passion we share at DARE,” he said. “Steve is an incredibly shrewd entrepreneur, so the opportunity to evolve our company within Asylum’s unique global network provides us with the perfect platform to create more original and memorable stories from around the world.”
Asylum’s other recent investments in UK-based production companies include Soho Studios and Moon&Back Media; Asylum also has first-look deals with Tom Morello’s Comandante Productions and the New York Post.
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