Content Media Corp PLC : Content Reaches An Exclusive Agreement With The Administrators Of Target Entertainment

Content Reaches An Exclusive Agreement With The Administrators Of Target Entertainment 21 March, 2012

Content Media Corporation ("Content"), one of the world's foremost independently owned distribution companies, has reached an exclusive agreement with the Joint Administrators of Target Entertainment Limited and Minotaur International Limited ("the Companies"), it was announced today.

The Companies went into Administration on 28 February 2012 and have no ongoing distribution capabilities. Under the exclusive agreement, Content will work with the Joint Administrators of the Companies to provide an ongoing distribution solution for Producers and other rights owners (together "Producers"), subject to necessary consents. Content is not acquiring the Companies' business or its assets.

Greg Phillips, President of Content Television stated, "We are well known to many of the Companies' producers and look forward to the opportunity to introduce our experienced distribution capabilities to many others. Our role is to help Producers transition the ongoing distribution from the Companies to Content as quickly and efficiently as possible and to then look to maximise the ongoing cash flow from that distribution. If we can achieve consent quickly we should be able to start this process at the forthcoming MIP-TV market and during the sales follow up to that market."

Producers who are interested in engaging with Content in relation to their ongoing distribution requirements should contact Vicky Ryan at [e-mail] who will be managing the transitional process within Content.

Shay Bannon, BDO business restructuring partner, said: "We are pleased to be able to report some positive news having reached an exclusive agreement with Content to provide a solution enabling distribution of the Companies' programmes and other content to be transitioned to Content. We are continuing to work to maximise recoveries in the administration for all creditors."

Content Television is run by President Greg Phillips and has a talented team of sales and supporting back office staff which is headquartered in London but also has offices in LA and Toronto. It is one of the world's largest independently owned television distribution companies with a diverse array of television programming across almost all genres, including drama, TV movies, mini-series, kids, factual entertainment, documentaries and other non-fiction programming encompassing a library of over 3,400 hours of programming.

Additionally, Content Digital leads the independent market in multi-platform distribution and is expert in optimizing long term value out of our client's titles across an array of digital platforms. The Content Media Group also includes Content Film - a world class film distribution company - and it also owns a minority stake in film distribution company Phase 4 Films and a majority stake in factual entertainment company Collins Avenue (producers of Lifetime USA's "Dance Moms" franchise) Content West and Spirit digital media.

The Content website address is www.contentmediacorp.com.

For further information contact:
Debbie Lawrence
The Lippin Company (London)
Email: [e-mail]
Tel: [phone]

About Content Media Corporation
Content Media Corporation plc ("Content", formerly ContentFilm plc), is a publicly traded, global entertainment media company based in London with offices in Los Angeles, New York and Toronto, which owns and distributes a significant library of film, television and digital assets. Content Film (formerly ContentFilm International), the film sales division, holds the rights to 200 titles and helps producers secure financing, marketing and distribution. The division also acquires top-tier documentaries. Content Television (formerly Fireworks International) is the television sales division, which holds the library rights to 3,400 hours of TV programming incorporating major drama series, non-fiction entertainment, special event programming, kids' series, TV movies and mini-series. Content Digital licenses over 300 hours of bespoke digital properties, in addition to the existing library, to digital media platforms worldwide, including on-demand, broadband and mobile.