TV-Loonland Plans Strategic Investment In Metrodome Group
TV-Loonland AG has its eyes set on 29.9 percent of the British DVD and video distributor Metrodome Group plc., London. If the green light is given at a general meeting on November 29, 2001, TV-Loonland will buy 4,184,250 new shares from Metrodome at a price of 17 pence (approximately US$.25) per share as part of a capital increase. At the same time TV-Loonland is prepared to extend a £1.5M ($2.18M) loan to Metrodome for the purpose of buying new film and DVD/video rights. TV-Loonland plans to support the continued development of Metrodome into one of the major independent, worldwide DVD and video distributors, whose particular strengths are kids and family entertainment. This continues TV-Loonlands strategic expansion including, among others, Salsa Distribution, Telemagination, Sony Wonder and Saerom Entertainment, a leading Korean video and DVD distributor.