Whizz Kid, the producer of the Baftas, is to take a controlling stake in TV distribution and fund-raising company Precious Media after receiving a£2m cash injection from investor Ingenious.

Precious Media, set up last summer, focuses on improving margins for content rights holders through multi-platform distribution and brings together brands interested in sponsorship and programmes which require funding.

It was set up by Peter Christiansen, former chief executive of format sales house Zeal Television and previously managing director of Endemol Entertainment UK.

Ingenious put£2.25m behind Whizz Kid's creation in June 2006. Sanjay Wadhwani, director of Ingenious Ventures, said the extra money reflected the indie's track record on filming events including the film and TV Baftas and Elton John's 60th birthday.

“I am delighted with the progress Whizz Kid has made since our initial investment in June 2006,” he said. “I look forward to further growth as Whizz Kid continues to win high profile commissions and makes further strides in multi-platform and branded content.”

Whizz Kid chief executive Malcolm Gerrie added: “The further investment is the next chapter in the Whizz Kid story as we strengthen our presence in the market through strategic partnerships with companies such as Precious Media.”