SelecTV moves into business programmes

SELECTV, the independent television producer best known for its Birds of a Feather comedy series, is expanding into business programmes with the acquisition of a 50 per cent stake in Tribeca Television.

The company is paying a maximum of pounds 91,000, of which pounds 25,000 will be an initial cash payment. The business was founded by Jeffrey Ferry, a financial journalist, who produced and presented Saving the American Dream for Channel 4 last year.

Allan McKeown, SelecTV's chief executive, said the business television market represented a 'new growth area' for the company. Until now the group has specialised in comedy and comedy-drama productions, including Auf Wiedersehen Pet, Porridge and The New Statesman.

'A greater public awareness of the importance of business and, in response, a need for broadcasters to develop more specialist strands of programming has created a growth market in business television,' Mr McKeown said.

Separately, the company announced that Tracey Ullman would star in a satirical radio show to be produced by SelectTalk, its radio division.

The programme is for London Light, the AM-frequency comedy and sports service proposed by London Radio Company, which has applied for two commercial radio licences for Greater London. SelecTV has a 20 per cent interest in the venture.

SelecTV shares were unchanged at 21p yesterday.