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Loonland to Divest Itself of Metrodome Holding

TV-Loonland will sell its majority stake in Metrodome, the U.K. film and DVD company, reports C21 Media. Metrodome confirmed that the board of TV-Loonland asked the company to "initiate a formal tender process for the sale of TV-Loonland's 61.3% stake in the issued share capital of Metrodome."

The tendering process is expected to be concluded by the end of September, subject to approval at TV-Loonland's annual general meeting in October. Several parties have already expressed interest in the company.

Simon Flamank, CEO of TV-Loonland and chairman of Metrodome, stated, "This is the conclusion of the strategic decision taken last year that TV-Loonland saw its stake in Metrodome as a financial asset. Metrodome is now a stronger and more focused company and as such it should now look to attract new shareholders and equity, in order for it to further develop its business."