19 December, 2007
ContentFilm (AIM: CFL), a pre-eminent owner of media rights supported by strong film, TV, DVD and digital sales divisions, today announces that the Canadian Broadcasting Corporation (“CBC”) and Fireworks International (“Fireworks”), a division of ContentFilm have entered into an agreement by which Fireworks will acquire the international distribution rights and assets currently managed by CBC’s division responsible for international sales. Subject to due diligence, the transaction is expected to be completed early in 2008.
The deal includes the sale of CBC’s program catalogue of approximately 135 titles, comprising 700 hours of quality television programming, plus all of the liabilities and receivables associated with the catalogue. The agreement does not affect any of the CBC’s broadcasting rights or its archives.
“Looking at our international sales activities, we determined that we lacked the scale and the resources required to be competitive in a market dominated by large, specialised firms,” says Steve Billinger, CBC executive director of digital programming and business development.
“Fireworks, and its parent, ContentFilm, are among the most respected organisations in the industry. We’re confident we can reach more potential customers through them than on our own. The sale of our international sales business to Fireworks is good news for the CBC and for the producers of CBC programming,” Billinger says.
“We’re thrilled to add these new titles to our catalogue,” says Greg Phillips, President, Fireworks International. “The CBC catalogue will now be part of the Fireworks library of television assets. The catalogue includes drama series, documentary programs, arts and entertainment, lifestyle shows, and other genres. This content will now be sold alongside the Fireworks TV library and will form a distinct and attractive addition to it. We are grateful to the people at CBC for trusting us with their library, and we look forward to building our relationship further. ”
Financial terms were not disclosed.
-Ends- For more information, contact:
Jeff Keay, CBC media relations, 416 205 3987, [email protected]
John Schmidt, ContentFilm Plc, +44 20 7851 6500, [email protected]
Neil Elliot, Evolution Securities, +44 20 7071 4346 Emma Kane / Sanna Lehtinen, Redleaf Communications, +44 20 7822 0200
