By Stuart Kemp
U.K. listed company pacts with administrators to take up sales duties for properties to garner creditor cash.
LONDON – Content Media Corporation, the U.K. stock listed sales, finance and production banner, has signed an exclusive deal with the joint administrators of loss-making British TV sales and finance house Target Entertainment and Minotaur International.
The companies, whose properties include Scottish detective series Taggart and children’s shows including Fifi and The Flowertots, was put into administration by owner Metrodome, earlier this year and have no ongoing distribution capabilities.
Through the Content pact with the administrator BDO, Content will work “to provide an ongoing distribution solution for producers and other rights owners, subject to necessary consents.” Content is not acquiring the companies’ business or its assets, it stressed in a statement to the stock market here.
Content Television president Greg Phillips said: “We are well known to many of [Target and Minotaur] producers and look forward to the opportunity to introduce our experienced distribution capabilities to many others.”
Phillips said Content’s role is to help producers transition sales duties to Content as quickly and efficiently as possible “and to then look to maximise the ongoing cash flow from that distribution.” The aim would be to get the paperwork done and dusted in time for forthcoming MIP-TV market in Cannes “and during the sales follow up to that market.”
Producers are being asked to get in touch with Content should they be interested. Content Television, run by Phillips, is headquartered in London with offices in Los Angeles and Toronto. It currently boasts TV programming across almost all genres, including drama, TV movies, mini-series, kids, factual entertainment, documentaries and other non-fiction titles with a library of over 3,400 hours.