Redmond plans his own exit from daytime television

Phil Redmond, the creator of Brookside and Grange Hill, has sold part of his television business and is stepping back from the day-to-day management of his biggest shows, he said yesterday.

His departure paves the way for his retirement from Mersey Television, the company he founded in Liverpool 21 years ago.

With the first injection of outside capital in the company's history, he said he wanted to expand the business and bring in new talent. "The aim is to set up a succession plan that will ensure that Mersey Television continues to grow and thrive over the next 20 years as it has done for the last," he said.

But having spent three years finding the right investors, he insisted he was not going yet. "I want to get away from the day-to-day stuff so I can go and explore new areas. There are still self-authored pieces I want to do and this is the time to do them."

The move follows Channel 4's announcement that it was shifting Brookside to a Saturday tea-time slot, with the expectation that it will be axed next year. Redmond retaliated by indicatingthat he would take his popular soap Hollyoaks away from Channel 4.

But he said the sale of part of his production company to LDC, a venture capital firm, had been planned for the last three years and was not a fit of pique. "The Channel 4 stuff has taken the headlines but that is a side-show in a sense. This is the next big step forward," Redmond said.

"It puts the business on a very strong financial footing to expand and signals to the industry that Mersey Television is changing ... it should be an umbrella company that will attract the best talent in the UK."

The deal leaves Redmond and his wife, Alexis, a chartered accountant, as the majority shareholders in the business. Redmond said he had been happy for LDC to invest in the company because they could see the long-term potential and had not even flinched when the news about Brookside broke.

Mersey Television remains a private company, so the figures involved have not been revealed. Broadcast magazine last year estimated it was worth £25m.

News of the outside investment was announced to the company's 500 staff yesterday and will be marked tonight at a party originally intended to mark the 20th anniversary of Brookside. In a hint at his continuing exasperation with Channel 4 over its handling of Brookside, Mr Redmond said it was a party "to put the FU back into fun".

Future plans for the company include an expansion of its online businesses and more productions from its Conker Boy Films division, which concentrates on shows for satellite and cable television.

And there are plans for two new soaps targeted at a niche audience. The first, What Next?, is aimed at 50-somethings while 20:02 will be aimed at viewers in their mid-20s.

He said the title of 20:02 was a joke on the failing Channel 4 breakfast show, RI:SE, and a reference to the traditional Brookside starting time.

The focus yesterday on niche shows suggested Redmond accepted Brookside's time had come. "Brookside was one of the last scatter-gun soaps designed to catch as many people from as many demographics as possible. Hollyoaks, for 16 to 24-year-olds, was the first niche show and it's been a soaraway success," he said.

THE REDMOND CV

BROOKSIDE

The programme that formed part of Channel 4's opening day schedule and epitomised its early years. With drug-taking, domestic abuse and the first lesbian kiss anyone could remember on British television, it achieved audiences of 10 million at its peak.

GRANGE HILL

When Redmond created this BBC children's series in 1978, family campaigners complained about its gritty depiction of comprehensive school life. But it went on to became a favourite.

TUCKER'S LUCK

After charming schoolgirls as Tucker Jenkins in Grange Hill, Todd Carty was given a spin-off show. It was the beginning of a tradition that saw Grange Hill's child stars growing up to populate the rest of television.

WATERFRONT BEAT

Written and produced by Redmond for the BBC in 1989, this drama about the Inner City and Waterfront Division of the police in London's Docklands ran for two series.

HOLLYOAKS

This soap, aimed at 16 to 24-year-olds, has been a crucial part of Channel 4's schedule since its launch in 1995. Its good-looking cast and occasionally controversial plots have ensured a cult following.