Suitors circle for film distributor
Wednesday 14 September 2011
Entertainment One, the film distribution company that brought the Twilight saga to the UK, has become a takeover target after receiving a series of offers.
It is understood that several offers have been tabled for the media company, which could value it at over £400m. Entertainment One, which is likely to release a statement to the Stock Exchange as early as this morning, declined to comment last night. The Twilight series, as well as the success of children character Peppa Pig, helped boost the group's profits for the full year to March by almost 40 per cent to £32.3m.
The group also secured a tie-up with Fisher Price to bring Peppa Pig toys to the US earlier this year. On Monday, it signed a "first-look" development deal with the production arm of Sir Richard Branson's Virgin Group, giving it exclusive rights to all of Virgin Produced's TV development.
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