Comedy producers make millions

The founders of Hat Trick, Britian's biggest independent producers of TV comedy, are to become multimillionaires after selling half their stake in the company.

The partners - including former stand-up Jimmy Mulville - will share a £23 million windfall after selling 45 per cent of their shares to venture capital firm Kleinwort Capital, the Guardian reports today.

Hat Trick is responsible for some of the most successful comedies on TV, including Have I Got News for You, Father Ted and The Kumars at No 42 (pictured).

The company is also a success in the US, producing the American version of Whose Line Is It Anyway?, which is still being aired on ABC, and exporting the format of The Kumars. It is also developing a US version of Father Ted.

It was founded in 1986 by Mulville, Denise O'Donoghue (Mulville's now ex-wife) and Rory McGrath, all of whom worked on the early Channel 4 comedy Who Dares, Wins

McGrath was sacked by Mulville in 1992 for allegedly not pulling his weight - and the former best friends have reportedly not spoken since.

Commercial director Hilary Strong will share the new windfall with Mulville and O'Donoghue in what is the biggest investment in an independent producer since Pearson bought Talkback from Giff Rhys-Jones and Mel Smith for £62million in 2000.

Hat Trick told the Guardian the money would help it expand from comedy, drama and entertainment into other genres, including children's, animation and documentaries.

Published: 17 Jul 2003