Companies aim to boost U.S. business
LONDON — Target Ent. has bought fellow U.K. distributor Minotaur Intl. from Virgin Media Television in a move both parties hope will help develop their U.S. businesses.
Agreement involves a long-term strategic partnership with VMtv aimed at generating coin from program sales, co-production and other worldwide opportunities.
Target will be the preferred worldwide distribution partner for VMtv’s future commissioned content and handle SMG Prods.’ programming, previously sold by Minotaur.
“The acquisition of Minotaur and the new strategic partnership with VMtv are a real coup for the company and mark the beginning of the next stage in our growth strategy,” said Target CEO Alison Rayson.
VMtv topper Jonathan Webb added, “The U.S. is a critical source of talent, ideas and production finance, and I want us to have a much stronger presence there.”