Metrodome Confirms Target Talks

LONDON: Metrodome Group, a U.K.-based film distributor, has confirmed that it is in negotiations to possibly acquire Target Entertainment.

Responding to British press reports from the weekend, Metrodome said that talks have been ongoing to purchase all or part of Target, which is owned by founder and CEO Alison Rayson, private equity outfit Acuity Capital and investor Richard Thompson. As the deal may be a reverse takeover, trading of Metrodome shares have been suspended pending conclusion of the talks.

Metrodome has made a name for itself distributing art-house fare in the U.K., such as Monster and Donnie Darko, theatrically and on DVD. Upcoming releases include Leaving with Kristin Scott Thomas and the Academy Award-winning Argentine feature The Secret in Their Eyes. Target Entertainment represents some 6,000 hours across a variety of genres. Founded in 1998 as an independent distributor, it expanded into production, licensing and home entertainment in 2004, before acquiring Minotaur International in 2007 and drama producer Greenlit Rights in 2008.