In March 2026, Fifth Season acquired a majority stake in UK production company The Story Collective (TSC). Fifth Season was previously a founding investor. The deal moves the studio into full control of the company.

The acquisition includes TSC’s current slate, including the Disney+ series A Thousand Blows, and its creative equity stakes in boutique production labels. TSC focuses on premium scripted television for global SVOD and linear buyers. Fifth Season finances projects and manages international distribution.

The transaction was led by Fifth Season CEO Graham Taylor and TSC CEO Damian Keogh.

Following the acquisition, Keogh joins Fifth Season as SVP and Managing Director of International Scripted while continuing as CEO of TSC. He will work with Ben Irving, SVP and Creative Director of International Scripted.

TSC co-founders Simon Vaughan and Helen Jackson are stepping down. Vaughan is launching a new company, Storyworks, under a first-look deal with Fifth Season.

The London leadership team includes Elouise West (Managing Director, TSC), Natasha Neill (CFO, TSC), and Charlotte Bloxham (SVP Physical Production, Fifth Season).

The acquisition gives Fifth Season control of TSC’s creative equity portfolio. This includes:

• Kate Croft’s Artis Pictures

• Rachel Springett’s Maia Pictures

• Tom Davis and James De Frond’s Mighty Pebble Pictures

These labels develop and produce scripted projects within TSC’s structure while Fifth Season provides financing and international distribution.

Studios are increasingly moving from minority investments in production companies to majority ownership. This secures long-term access to premium scripted projects and European production pipelines.

The deal reflects continued consolidation in the premium scripted production sector.

By integrating TSC, Fifth Season combines development, financing, and international distribution within a single structure. Global rights management becomes centralized inside the studio.

Recent international licensing of Wild Cards and Sight Unseen across multiple territories illustrates this distribution model.

For independent producers, the concentration of capital and distribution inside studio-backed production groups increases pressure on companies operating without access to studio financing.

Control of production pipelines is becoming more important than individual project ownership.

With majority ownership of TSC, Fifth Season secures direct access to a network of boutique production labels developing premium scripted content in the UK. Financing, development, and global distribution now sit within the same structure.

For studios operating global distribution networks, this model strengthens control over both content supply and international rights.