Metrodome has acquired Target Entertainment for £800,000.
Film rights distributor Metrodome has acquired Target Entertainment for £800,000.
Founded in 1998, Target is a TV distribution rights management business. The company holds the distribution rights to programmes including Footballers’ Wives and Bad Girls. In 2009 the company made a pre-tax loss of £727,000 on a turnover of £13.8 million and had gross assets of £2.8 million. Target is based in London and has offices in the US.
AIM-listed Metrodome holds the rights to films including Chopper and Donnie Darko. In 2009 Metrodome made a pre-tax profit of £199,000 on a turnover of £9.1 million.
Mark Webster, chief executive of Metrodome, comments: ‘Target will provide the company with penetration into a well established TV distribution library with circa 6,000 hours of content. As such I am confident that the strong global network of relationships will form the basis of Metrodome’s future strategy of becoming a diversified media business, and furthermore will strengthen and enhance future earnings for the Company.’