Cwmni Da staff trust to takeover TV company
An independent TV company is to be taken over by a trust run on behalf of its 50-strong workforce.
Cwmni Da, based in Caernarfon, is to become an Employee Owned Trust buying owner Dylan Huws's shares over the next five years.
The conversion is being managed by the Wales Co-operative Centre.
Cwmni Da was founded in 1996 and makes Welsh language programmes for S4C, including children's programme Deian a Loli.
Shares will be held on behalf of the workforce in a fund.
Managing director Mr Huws, 59, who became the sole owner after two former directors decided to step down said, in recent years, "consolidation in the independent production sector has seen several Welsh companies being sold to larger entities".
He said he "wanted to ensure Cwmni Da remained in the hands of staff who have all contributed to its success".
"Succession planning is at the heart of the plans for the future and a timetable has been put in place, working with recognised experts in this field to lead us through this process," he said.
He will remain as managing director for three years while the transition is completed.