Agreement with Administrators of Target (7669Z)

TIDMCMCP

RNS Number : 7669Z

Content Media Corporation PLC

21 March 2012

   Date:                            21 March 2012 
   On behalf of:                 Content Media Corporation PLC ('Content') 

Content Media Corporation PLC

-- Exclusive agreement with the Administrators of Target

Content Media Corporation ("Content"), a pre-eminent owner of media rights supported by strong film, TV and digital sales divisions and one of the world's foremost independently owned television distribution companies, today announced that it has reached an exclusive agreement with the Joint Administrators of Target Entertainment Limited and Minotaur International Limited ("the Companies").

The Companies - which were television distribution companies - went into Administration on 28 February 2012 and ceased ongoing distribution capabilities. Under the exclusive agreement, Content will work with the Joint Administrators of the Companies to provide an ongoing distribution solution for the Companies' Producers and other rights owners (together "Producers"), subject to necessary consents.

Content is not acquiring the Companies' business or its assets.

The full press release is available on Content's web-site, www.contentmediacorp.com

Mr John Schmidt, Chief Executive Officer of Content Media Corporation, commented:

"We are pleased to have closed this exclusive deal which provides an opportunity for Producers of the Companies to transition their distribution across to Content. At this stage, we do not know how many Producers will avail themselves of this opportunity but we will be working hard to make the process as quick and efficient as possible in an effort to bring more television product and producer relationships into Content."

- Ends -

Enquiries:

 
 John Schmidt/Geoff Webb         www.contentmediacorp.com 
 Content Media Corporation PLC   Tel: 
                                  020 7851 6500 
 
  Robert Emmet 
 Throgmorton Street Capital      Tel: [phone] 
 
 
 Philip Secrett/ Colin Aaronson /David 
  Hignell 
 Grant Thornton Corporate Finance        Tel: [phone] 
 
 
 

Content Media Corporation plc ("Content"), is a publicly traded, global entertainment media company based in London with offices in Los Angeles, New York and Toronto, which owns and distributes a significant library of film, television and digital assets. Content Film, the film sales division, holds the rights to 200 titles and helps producers secure financing, marketing and distribution. The division also acquires top-tier documentaries.Content Television is the television sales division, which holds the library rights to 3,200 hours of TV programming and 300 hours of digital content. Content Digital licenses new and existing properties to digital media platforms worldwide, including on-demand, broadband and mobile. In addition, Content owns a significant stake in the following companies:

-- Phase 4 Films, a film and home video distributor in the United States and Canada, headquartered in Toronto and run by CEO, Berry Meyerowitz

-- Collins Avenue, a television production company based in Los Angeles and run by producer, Jeff Collins. Recent credits include "Fly Girls" on the CW network, and current productions include "Stuffed" for Animal Planet, "Dance Moms" for Lifetime and "Extreme Kids Parties" for TLC.

-- Spirit Digital Media, a digital studio established by Peter Cowley, former MD of Endemol UK Digital.

-- Content West, a television distribution company focused on distribution activities throughout Wales and West England.

This information is provided by RNS

The company news service from the London Stock Exchange

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