Channel 4 has taken one of the biggest steps in its 40-year history by acquiring a majority stake in a production company for the first time.

The network has used its nascent Creative Investment Fund (CIF) to acquire Murder Trial producer Firecrest Films . Financial terms were not disclosed but we know Channel 4 now holds a majority stake with plans to take full ownership over time. Channel 4 previously had a 25% minority stake in Firecrest via its Indie Growth Fund.

The deal represents a huge moment for Channel 4 as it gears up to launch its in-house productions unit. In May, it revealed that it would open the CIF to back production companies with commercial potential. Channel 4 declined to reveal the value of the company’s indie investment war chest at the time. The network has

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