Vaughan and Anthea, the star directing duo, have orchestrated a dramatic
buyout of Federation, the fledgling production company they joined this
year for a reputed six-figure sum.
The buyout comes just six months after V&A left Lewin and Watson for
Federation (Campaign, 30 June), which was set up by its US parent,
Propaganda, as a third attempt to establish a foothold in the UK and
V&A will be equal shareholders in the new-look Federation, together with
their producer of three years, Adam Saward.
The outfit will have one other director on its roster, Malcolm Venville,
who resigned from Redwing Films to join Federation with V&A.
Saward told Campaign: ‘We’ve been given the opportunity to own and run
our own company with Propaganda as a shareholder. This is something
we’ve been talking about for a while. It’s an entirely amicable move.’
Propaganda will retain an unquantified minority stake in Federation and
will continue to represent its US-based directors in London through its
Propaganda Europe and Satellite companies here. Its president, Steve
Dickstein, will stay closely involved.