See-Saw Films Goes on Sale; Why 'Tenzing' Has Been Their Most Challenging Film Yet, and the Potential of World Building Beyond 'Slow Horses' and 'The Neverending Story'

Less than two years ago, See-Saw Films was one of the industry's most highly qualified outfits. Behind a library of acclaimed films, including Oscar winner The King's Speech, as well as Lion, The Power of the Dog and One Life, the prestige tastemakers had made a dazzling entry into television.

Zendaya to star in Alex Garland's sci-fi film on A24

Jonathan Bailey and Natalie Portman Thriller 'Pumping Black' Adds Daniel Kevin Tooie, Lukas Lingaard Tonsen, Aryeh Wuerthalter and Tony Hill (Exclusive)

Less than two years ago, See-Saw Films was one of the most eligible bachelors in the industry.

Prestige Tastemakers Behind a string of acclaimed films (including the Oscar-winning "The King's Speech," plus films like "Lion," "Dog Power" and "One Life"), the production company had ventured into television with shows like "Slow Horses," "Slow Horses," "Slow Horses," and "Heartstoppera." And yet it has remained completely independent since it was founded by Iain Canning and Emile Sherman in 2008, with dual headquarters in London and Sydney.

But that bachelor status ended in March 2025, when Pierre-Antoine Capton's quickly acquired French studio Mediavan took a controlling stake, and See-Saw joined the likes of Plan B and Leonine (and later LuckyChap International, North Road, and this week, Hello Sunshine).

Some 18 months after the Mediawan and See-Saw deal, it looks as productive and creative as ever. Gary Oldman's spy series "Slow Horses" continues to move along at a remarkable pace, with season 6 already out on Apple TV and seasons seven and eight currently streaming. Meanwhile, Netflix's LGBTQ teen romance "Heartstopper" has wrapped production after 3 lovable seasons with a spin-off feature film. From the Australian office, last year saw the release of Apple Cider Vinegar, while the Marian Keys adaptation of Grown Ups - also from the Sydney team, but filmed in Ireland - is expected to hit Netflix soon. And, See-Saw has just announced a live-action TV series adaptation of the hit animated series Miraculous: Tales of Ladybug & Cat Noir, in collaboration with media partners Miraculous Corp.

See-Saw may be best known for his work on the small screen over the past few years, but this week sees the release of his most ambitious film to date. "Tenzing" by Jennifer Paydon, the director of "Sherpa", will be released on Apple TV after a brief appearance in cinemas and tells the story of the first ascent to Everest from the perspective of Tenzing Norgi (played by Tibetan actor Jendan Puntsok). 1953. Filmed between Nepal and New Zealand (with snow-capped mountains flanking the Himalayas), the film was, according to Sherman, "a maddening production to make."

In their first major interview with Variety from their East London offices, co-founders and CEOs Sherman and Canning talk about life under their new owners and the opportunities it's brought to the company. Their schedule also includes Tenzing — their "most challenging" project to date — about plans to turn "The Neverending Story" into a major franchise and bring some of World-like buildings speak to their brands like "Slow Oslos". As Sherman notes, "We're in the business of creating IP."

More than 18 months have passed since the purchase of Mediavan. What has changed? What hasn't happened? What has been the biggest surprise?

Emil Sherman: I think the first thing to say is that doing a deal and selling part of your company is a scary thing. We had never done this before so we didn't really know what to expect or how it was going to work. But I guess there's a real alignment in flavor and quality, and they just have a real exciting energy that's very much in line with ours. And then they really fueled our ambition, which is what we were hoping for. And this is across formats. We've got 'miraculous', but there's actually a whole range of formats that we've started working with, some really exciting ones, and they're actively looking for opportunities between their companies. There's the Entourage deal that was announced, which is a way to expand our ability to green our own products, which is really exciting. We've got the "Great White" show coming out of the Australian office, where they've come in as the sales distribution arm and found joint commission opportunities, put them in finance, and I guess they've really proven that side of themselves. Commitment to us.

Iain Canning: I think we were kind of hopeful and didn't know how much it fueled our creativity. We've always been a company that wanted to be the home of creativity in many ways, but the relationship with Mediawan has really fueled that. As a group of people, they are very passionate and energetic, and so are the other companies, they are all smart and energetic.

Simon Gillis: I think that because Pierre-Antoine [Capton, Medivan's CEO and co-founder] comes from being a producer rather than a business person, he really gets the alchemy of production and the risk-taking that comes with it. And she really—as does Elizabeth [d'Arvieu, chief content officer at Mediawan Group]—appreciates the creative process and wants to create a safe space for it. So I think we've been encouraged by the other companies that have come into the fold since See-Saw. And we're very excited that North Road is now part of the group and it means opening up opportunities for us in the US.

Mediawan is based in France, See-Saw is based in Australia and the UK. Has this extra time zone culture changed anything in the way things are run or just day-to-day business?

IC: We are the first media company [Mediavan] in Australia. They are very excited to have such a footprint.

ES: They were interested in Australia even before See-Saw. One of the challenges you know going out into the market was trying to find a home that not only appreciated British TV, but Australian TV and film, and I think we're an unusual company to be able to be on different continents and different formats. In terms of time zone, this is the disaster of our lives. Fortunately, France is a bit in between. It's obviously easier here, but Elizabeth and Pierre also spend a lot of time in Los Angeles.

You have recently had changes in executive management. Patrick Walter [producer of "Heartstopper" and "See-Saw"] left a while ago, but then Helen Gregory (co-CEO) left recently. Can you provide a context behind those changes?

IC: Patrick was with us for 14 years. He did the job perfectly. It was still a loss. But we worship him. We have a relationship with him in several projects. But he did a really fantastic job at See-Saw, and he took Heartstopper into the movie with a lot of passion and really grew in the company. So we are very proud of his work here. Helen was with us for five years. I think we will have our busiest time in terms of work outside the home. So he's really got us into a wonderful place, with a real focus on the return of television, what's coming out.

ES: It was a very transformative five years. I think "Slow Horses" and "Heartstopper" had just started when Helen joined. So I think this trip was to prove ourselves. Getting a premiere season greenlit is incredibly difficult. But building a show, pitching a show, and then setting up a show for success with returning seasons... to be "Slow Horses" in eight seasons. It's making sure that when we set up a show, we set up a returner to come back and succeed, not just chase the green light and then burn them out and make them irreversible. So I think that's really Helen's legacy.

It seems like it's been a while since we've had a See-Saw feature film of sorts, and Tenzing is a pretty epic way to return to the big screen. What is the connection between that movie and other See-Saw movies like The King's Speech, The Lion, and The Power of the Dog?

IC: From The King's Speech, Lion, Operation Mincemeat, One Day... we've always been drawn to the fantastical stories we can find. This is an extraordinary story told from a different perspective than is usually told. Also, in terms of logistics, it has been a really complex and difficult film. But it was really led by director Jennifer Peedum, who is a first-time feature director. He really wanted to have that feeling of actually being in the mountains. But we love fantastic true stories. We love stories about outsiders, which probably goes for those two TV shows as well. So it feels very much like the kind of project that Seesaw does.

ES: We're quite ruthless as filmmakers in terms of trying to get the best out of the story and really understand the emotional potential of these big journeys. And no one went on a bigger journey than Tenzing Norgey, from this truly poor and alienated upbringing to what I believe to be one of the most famous global heroes of the century. So what we like is to try to take a story like that and give it the full emotional richness and heart that it deserves. It was a crazy production. As such things have been known in the past, but we did not know it at the time. This is definitely our most challenging production. Other studios had looked at it and felt it wasn't something that could be achieved.

You have had phenomenal success with your films and have won countless awards. Does this add extra pressure to a project like "Tenzing"?

IC: No, because I think Jennifer Peedon has done a fantastic job. The amazing thing about Jen's directorial Tenzing is that its logistical challenges are invisible to the camera. Yes, there are expeditions and risks and problems that come with it. But in terms of being able to work with actors, to deal with complex situations and also to make a beautiful film, I think he's done a fantastic job. And as I said, this is his first narrative feature.

ES: I think the logistical challenges are, in a way, what gives the film its integrity. The priority was always to make a film that felt like you were in the mountains, and Anfilm's resources and structure, the production process all revolved around that. It's very hard to define what makes a movie not only good, but gives you goosebumps. And I think that's where it comes from in this movie. It's like you really went to Everest with Tenzing and Hillary.

Not as high as Everest! But the lead producer was saying that usually in a production, someone comes up and kind of taps the director on the shoulder and says, "We're running out of time," but here it was, "We've got to get off the mountain." First was safety

Did you come there yourself as a producer?

ES: I was in Kathmandu, but I didn't go up. In New Zealand there were only helicopters taking key crew up and down. Sometimes the clouds come in and we have to leave in two minutes. We have to go in two minutes, but our actors were restrained to the mountain.

IS: Not being big climbers ourselves, two great things come out of building Tenzing. One is to understand this insistence. I'm really fascinated by what's inside someone that makes them want to achieve something like that. But secondly, I hope people feel the experience of climbing Everest so they don't have to do it themselves.

I have to ask about "The Neverending Story". New film adaptations were announced more than two years ago. What's the latest there?

IC: We are very much on our timeline! What I can say is that the richness of the adaptation of this novel is wonderful. You dream of being involved in a project like this. You go through this quite rigorous process to become partners with Michael Ende Productions, and they've been really great. But then you can go through the development stages and you get into the story itself, which is a celebration of creativity. Which I guess brings us back to what we're saying about the company and what Mediavan has helped us in terms of fueling. But to be able to go into the world of Bastian and the world of Fantastica and develop it for a contemporary audience in a four-quadrant way has been very interesting to me and a lot of fun. So that's as far as I can tell. But we are on the way. We're on schedule and then we develop it and when we're a little further along we're going to market it.

Do you have a creative team, including writers?

IC: We have finalized the creative team, yes!

IC: We have finalized the creative team. I see!

Mediavan's contract was made after the announcement of "The Endless Story". Has it changed or expanded the scope of what you intend to do?

ES: As a global studio, they want to own and control fantastic IP and IP, and The Neverending Story is a lure. So it's very much at the heart of what excites them.

SG: And it's great that we have the property with us on the trip. We did a deal where we're not just involved in the films, but in the success of all those different segments. So I hope that it has a kind of endless franchise life in many different media and business models - and it's great that we're a part of it.

You recently signed a $50 million partnership with Entourage. Has anything come of it yet?

IC: The Entourage deal changes things in terms of our slates, and we also potentially team up with other producers in a way we've had before on film projects. It just gives us a fast track to the green light, which when it gets harder and harder in a market, whether it's in TV or film, it just gives us the ability to focus and find these cross-commercial projects. And either through our own slate or through a partnership with another manufacturer or manufacturing company, we can fast-track it into production.

"Slow horses" have become a phenomenon. But the speed at which you've built the show has been crazy. The sixth season is currently on the screens and the eighth season has just been announced. It is a rare occurrence in this world that usually people have to wait two or three years for the next season. But how did this rapid pipeline come about?