Two former BBC executives, who worked on worked on Doctor Who, were given a £4million loan in taxpayers’ cash to set up a new TV company before paying themselves £1.3m despite making a loss.
Jane Tranter and Julie Gardner started their own company called Bad Wolf with the public cash from the Labour-run Welsh Government.
Tranter, 54, and Gardner, 48, were given a loan of £4m from the Welsh Government to set up a studio in Cardiff for ‘high-end TV and film for the global television market’.
But after Bad Wolf’s first year, the firm’s accounts revealed Tranter was paid £855,417 and Gardner received £519,301.
Over the same period, between July 2015 to December 2016, the organisation reported a loss before tax of £2.8m.
Jane Tranter (left) and Julie Gardner (right) started their own company called Bad Wolf with the public cash from the Labour-run Welsh Government
Jane Tranter and Julie Gardner worked on Doctor Who (pictured David Tennant and Billie Pyper) in 2005
And the Conservative opposition in the Welsh Assembly today spoke of their ‘concerns’ at the use of public money on the TV company.
The pair are both former high-flyers at the BBC – Tranter is a former executive vice-president of programming and production at BBC Worldwide’s LA base and BBC’s former controller of fiction. Gardner then took over as Controller of Drama Commissioning at BBC Television.
The accounts also revealed that Tranter received a loan of £270,645 from the company at an interest rate of 0.5 per cent, – £186,861 remained outstanding at the end of 2016.
The firm is currently developing what will be the biggest studio in Wales at Cardiff and has three major productions in the pipeline.
A spokesman for the Welsh Conservatives said: ‘We support investment in our creative industries, which is a busy and expanding sector here in Wales.
‘While we hope that Bad Wolf and its pipeline projects will achieve great success, there are aspects of its finances which are concerning.
‘It is curious as to why the Welsh Government has awarded a loan of £4m guaranteed against the value of Bad Wolf Ltd’s assets, which the annual report shows are worth a mere fraction relative to the loan’s value.
‘That the directors collectively paid themselves an income equivalent to nearly half of the loan’s value is also a cause for concern – especially given that their projects are still in the inchoate stages and are yet to make a return.’
Tranter and Gardner were at the helm of the BBC’s drama division until 2008 – and relaunched ‘Doctor Who’ and created ‘Torchwood’ a decade ago.
Tranter and Gardner (pictured) were at the helm of the BBC’s drama division until 2008 – and relaunched ‘Doctor Who’ and created ‘Torchwood’ a decade ago
Both shows were produced in Wales, and ‘reignited the television industry in the country’.
Tranter and Gardner subsequently moved to Los Angeles to head up BBC Worldwide Productions. But they set up Bad Wolf in 2015 with the aim of building their own company in Wales on a ten-year plan
At the time, Tranter said: ‘We are delighted to be working with the Welsh government to grow this industry and continue to benefit the economy of Wales. It could be a world leader within the decade.’
Gardner also said: ‘Jane and I have filmed all over the globe and know, first hand, that the talent base in South Wales is world class. We are thrilled to be embarking on this new venture surrounded by such shared talent and passion.’
Asked about the funding, spokesman for Bad Wolf said: ‘The Welsh Government loaned £4m to Bad Wolf to develop international TV production in Wales – to be repaid with interest.
‘Since then Bad Wolf has brought in over double that amount in investment from outside companies with further investment imminent.
‘The company is about to unveil a new £25m production to be shot in Cardiff, meaning that the loan from the Welsh Government has already generated significant new business for Wales.’
The Welsh Government did not wish to comment on ‘a commercial decision by a private company’.
But at the time of their launch Wales’ minister for economy Edwina Hart said Monday: ‘Creative industries is one of our fastest-growing priority sectors. We want to establish Wales as an international center of excellence for high-end TV drama production worldwide.’
‘Bad Wolf has the potential to be a game changer for the creative economy in Wales.’
A third director, Miles Ketley, was paid £441,539.