15 Oct 2009 07:00
RNS Number : 7956A
Boomerang Plus PLC
15 October 2009
Date: 15 October 2009
On behalf of: Boomerang Plus plc ('Boomerang', 'the Company' or 'the Group')
Embargoed until: 0700hrs
Boomerang Plus plc
Potential Acquisition
Boomerang (AIM: BOOM.L), a multi-genre, independent television production group operating within the Nations and Regions, today announces that it is in advanced talks to acquire Indus Films Limited, a Welsh-based, network-focused, award winning production company.
This announcement follows Boomerang having been made aware that the existence of these talks was in the public domain.
A further announcement will be made in due course.
- Ends -
For further information, please contact:
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Boomerang Plus plc
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Via Redleaf Communications
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Huw Eurig Davies, Chief Executive
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Mark Fenwick, Finance Director
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Altium Capital Limited
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020 7484 4040
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Tim Richardson / Melanie Szalkiewicz
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Redleaf Communications
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020 7566 6700
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Anna Dunkin / Samantha Robbins
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boomerang@redleafpr.com
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Evolution Securities
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020 7071 4317
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Boomerang Plus
The Group, founded in 1994, has extensive experience in producing content in a variety of genres, including extreme sports, youth programming, music, entertainment, children's programming and drama
The market for independent television production companies in the Nations and Regions has grown following quotas from the regulator Ofcom, which require that, depending on the broadcaster, between 10 per cent. and 50 per cent. of qualifying programming hours must be sourced from outside the M25 boundary
Boomerang is ranked in the top three independent television production companies, by revenue, in the Nations and Regions according to the Broadcast Survey (Nations and Regions) 2009
The Board's strategy is both to achieve strong organic growth by leveraging the Group's existing customer base coupled with strategic acquisitions, with a view to becoming a major supplier to UK networks looking to satisfy their Nations and Regions quotas
Boomerang is well placed to participate in the consolidation of the sector. Target companies which meet the acquisition criteria will have a strong track record, which will assist the Group to grow further, outside Wales
Indus Films Limited
Indus Films is one of Wales' leading independent production companies, specialising in high quality adventure, arts and history programming for broadcasters in the UK and the US
Created in 2005 by former BBC Wales' executives Steve Robinson and Paul Islwyn Thomas along with broadcast consultant Emyr Byron Hughes, Indus Films has created a strong reputation for high-end factual output
Indus recently won a BAFTA for its BBC Two series Amazon with Bruce Parry. Other major output includes two series of Coal House, a living history project for BBC One Wales that achieved the broadcaster's highest ever viewing figures for a factual programme, Expedition Alaska for the Discovery Channel and Everest ER for BBC One
This information is provided by RNS
The company news service from the London Stock Exchange
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