EXCLUSIVE: Brady & The Blues producer Whisper has exited its Sony Pictures Television (SPT) stake after five years and returned to private ownership.
The sports and entertainment producer, which was founded 15 years ago by Sunil Patel, broadcaster Jake Humphrey and Formula 1 champion David Coulthard, has spent the past year seeking new ownership or minority investment. In the end, it has opted for “using external finance to deliver a bold and ambitious strategy, create an employee equity scheme, and allow the management team – led by CEO and founder, Sunil Patel – to drive new growth and market expansion,” it said.
SPT has exited the 30% stake it took in 2020 after five years during which time Whisper said its revenue has grown almost 500%. The company’s revenue rose nearly 20% to £92.3M ($123.4M) last year, while profit almost doubled to £5.5M.
Following a year-long analysis of the market, advised by KPMG, Whisper said the decision to return to private finance had been made in consultation with shareholders. Barclays is providing finance, we understand. The company, which makes the likes of Amazon doc Brady & The Blues, Turbulence: The Greatest Mind in Formula One with Artists Equity and gameshow Wheel of Fortune, along with producing coverage of the NFL, NHL and NBA, recently opened a U.S. hub.
Patel said: “Five years ago, Whisper set off on a journey to become a multi-genre production company. That has been absolutely delivered – creatively, commercially and culturally – with revenue up nearly 500%. It would not have been possible without our bold vision and partnership with Sony, which helped elevate Whisper to a truly global force, so huge thanks to Wayne and the wider Sony team. The next chapter of Whisper’s story is already underway, and that will continue to place our people at the heart by ensuring they share in future growth alongside shareholders.”
Whisper used to have minority invesment from UK pubcaster Channel 4, which then switched to SPT. Buyers in the frame for Whisper had included RedBird Capital. Patel recently told us an outright sale would have given Whisper “capital to deploy” for the first time. “Everything we have done so far, we’ve put the money back into the business,” he said several weeks back.
SPT international boss Wayne Garvie said Whisper has “over the last decade become one of the leading global production companies in their field.”
