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Just Group Merges With Rights Management Company Target

JustAction Group, international distributors for BUTT UGLY MARTIANS, hasrecently merged with rights management and distribution companyTarget. Just Group, which collapsed last year after CEO WilfShorrocks and commercial director Paula Shorrock were dismissed, duein part to a revision of expected revenue from BUTT UGLY MARTIANSplus a less than successful purchase of publishers MediaKey, has hada recent cash infusion of 1.85M pounds (US$2.7M) from itsshareholders, who have agreed to acquire a majority shareholding inTarget. This 54% share will be purchased from Target's foundingshareholder, Tiger Aspect, who will sell its majority stake in Targetbut will continue to work with the newly merged company on anon-exclusive project specific basis. The merger will create a newintegrated media group with activities in television and filmproduction and distribution, rights management, licensing andmerchandising. Just Group's BUTT UGLY MARTIANS will join Target's keyproperties POPSTARS, FOOTBALLER'S WIVES, BAD GIRLS and the JohnMcEnroe-hosted game show THE CHAIR. The company expects to come outof administration at the end of June 2002, and be re-listed on theStock Exchange next year. It is proposed that the newly formedcompany will appoint Target's managing director Alison Rayson as CEO.Other Target officers taking over positions in the new companyinclude Nigel Wilson as finance director, Nick Underwood ascommercial director for the consumer division and Kate Bourne ascommercial director for the broadcast division. All of Target'sexisting 14 person staff will join the new company. ChristopherJones, vice chairman of Just Action Group, and proposed executivechairman of the new company commented, "Following the Just ActionGroup's focus on reinvigorating Just Group plc, this deal will bringtogether management expertise with valuable intellectual property andaccess to capital to build a solid platform to take the new companyforward. I am totally confident and excited about working with AlisonRayson and her team who have gained an excellent reputation in thedistribution business since setting up Target nearly four years ago."It has not been decided whether the company will retain the JustGroup name.