Acquisition costs a total of $3.85 million
LONDON — Intandem Films, the London-based sales company, has acquired distribution rights to four genre movies — “True True Lie,” “Supergator,” “Incubus” and “Snuff-Movie.”
The company, listed on the U.K.’s Alternative Investment Market, issued a $7.2 million loan note via Capitoline Global Fi-nance to bankroll the deal.
The acquisition of the four movies cost Intandem a total of $3.85 million. After transaction fees, that leaves the company with $2.9 million, of which $1.08 million is being held separately as an interest reserve, and the remaining $1.82 million is available to invest in further acquisitions.
“This is a very exciting deal for Intandem and will act as the foundation for what we expect to be a period of solid growth,” said exec chairman Gary Smith.
“We now represent 15 films, up from three films at the start of the year. We are in negotiations for several new films and are looking forward to closing further similar value-enhancing transactions in the second half of the year.”
“True True Lie” is a British psychological thriller, directed by Eric Styles, about a woman whose delusions turn out to be real.
“Incubus” is a U.S. slasher movie, which premiered on the internet via AOL last month, ahead of a DVD and TV release next year by Sony.
Brian Clyde’s “Supergator” will bow on the Sci-Fi Channel in the U.S.
Intandem has bought worldwide rights to those three films. In the case of Bernard Rose’s highbrow horror project “Snuff Movie,” about a deranged film director, it has acquired all rights excluding the U.K., Spain, Benelux, France, Greece, CIS, Brazil, Mexico and India.