Film distributor Metrodome Group is in talks to sell off Target Entertainment, 18 months after it acquired the UK-based indie.
Metrodome acquired Target’s rights businesses for £800,000 (US$1.26 million) in August 2010, including its distribution and consumer products teams, and its film and entertainment production labels, Pink Sands and Target US.
At the time, Metrodome chairman and CEO Mark Webster promised to “significantly invest in the company,” with a total spend of £3 million. “Target Entertainment is a perfect fit, which we predict will double our revenue and the size of the business within a short space of time,” he said at the time.
However, in a statement issued today, Target confirmed discussions for its sale were underway. “We are in talks with various parties about our future ownership and will make a formal announcement at the appropriate time,” it said.
Among the factual titles distributed by Target Entertainment are T Group Production’s Storage Hunters, Twofour Broadcast’s Tamara Ecclestone: Billion $$ Girl, and Raw Cut’s Police Interceptors. Target yesterday unveiled a number of deals for the latter title.