TV-Loonland Acquires Majority
By lgodfrey
Created 08/13/2002 - 00:00
Family entertainment producer TV-Loonland AG continues to expand operations in its home entertainment unit by increasing its stake in the UK-based DVD and video distributor Metrodome Group plc, London. The deal, worth some £1.25 million (US$1.92 million), will be paid with 7.36 million Metrodome shares, increasing TV-Loonland's share in the company from 29.9% to a majority stake of 54.18%. Metrodome will subsequently assume Loonland's home entertainment rights for such series as PONGWIFFY, LITTLE GHOSTS, YVON OF THE YUKON and THE CRAMP TWINS. In addition, Metrodome will pay licensing fees for TV-Loonland's titles proportional to revenues. The first TV-Loonland title to be marketed by Metrodome will be two animated Christmas specials DONNER and SANTA MOUSE AND THE RATDEER, available on both VHS and DVD in time for the holidays.
