Beyond International Buys TCB Media Rights From Kew Media Group – Variety
Australia’s Past Worldwide is to accumulate U.Okay. distributor TCB Media Rights, beforehand owned by Kew Media Group, which turned bancrupt final month.
Past is shopping for TCB from FTI Consulting Canada Inc., the official receiver for Kew Media Group.
The acquisition will probably be accomplished by way of Past’s Eire-based subsidiary, Past Leisure Restricted (BEL).
In a press release to the Australian Inventory Trade, Past mentioned it would purchase 100% of the share capital of TCB for money and also will advance funding to TCB to repay an intercompany debt owing to Kew.
Monetary particulars of the transaction weren’t revealed. Nevertheless, Past mentioned the deal, which will probably be paid for with money and debt amenities, is value lower than 10% of BYI’s present belongings as at Dec. 31, 2019.
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Based in 2012 by Paul Heaney, non-scripted factual specialist TCB’s tv gross sales portfolio contains “Deserted Engineering,” “Fight Ships,” “Egypt’s Unexplained Mysteries,” and the not too long ago introduced “Excessive Ice Machines” and “Hitler’s Supercars.”
Mikael Borglund, CEO of BYI, mentioned that the acquisition of TCB is strategic and is anticipated to considerably improve the size of the Past distribution enterprise.
Over the primary 12 months, Past mentioned it’s anticipated that the acquisition will probably be cash-flow constructive and earnings per share accretive to BYI.
Past instructed the Australian Inventory Trade that the acquisition is topic to customary situations, together with the approval of the transaction by the Ontario Superior Courtroom of Justice.
A variety of firms beforehand underneath the Kew umbrella have discovered new houses. “Dance Mothers” producer Collins Avenue Leisure was picked up by The Content material Group, a part of Steve Michael’s Asylum Leisure Group.
Different offers have seen Glasgow-based producer Two Rivers Media purchase out KMG’s stake and Quebec-based producer and distributor Datsit Sphere buying factual and youngsters manufacturing firm BGM.
TCB declined to remark.