TV Loonland Acquires Korean Distrib Firm Saerom
Created 12/15/2000 - 00:00
files/pictures/picture-35.jpgBerlin children's producer TV Loonland has bought a 65% stake in Seoul distribution firm Saerom Entertainment. Saerom is the third-largest video and DVD distributor in Korea and controls a leading Internet film portal, which it has been leveraging as a new means of distribution. TV Loonland will pay US$9.5 million for its share of the company, which foresees sales of $14 million and profits of $2 million for the year 2000. The move is yet another step in TV Loonland's global expansion, giving the company a strong distribution and Internet foothold in Asia. The German mega-firm recently acquired kid producer Sony Wonder, London production house Teleimagination and Latin distribution company Salsa Distribution.