9 Oct 2014 14:31
DCD Media Plc
("DCD Media" or the "Group")
Matchlight Limited and Trading Update
DCD Media is pleased to confirm that it has completed the sale of its Glasgow-based production business, Matchlight Limited, to management ("the Sale") and gives an update as to trading in its Rights and Production divisions.
Disposal of Matchlight Limited ("Matchlight")
Consideration for the Sale includes both upfront and deferred cash payments totalling £200,000, which will be used as working capital in the Group. In the year to 31 December 2013, Matchlight made a loss before tax of £0.3 million. The board does not consider Matchlight to be material to the Group on an ongoing basis and the Sale improves the net asset position of the Group.
DCD Media will maintain a continuing strong relationship with Matchlight and DCD Rights will retain a long-term option over Matchlight's distribution rights.
Trading Update
Meanwhile, the Group has exciting new developments in both DCD Rights and the Group's production division, as described below.
DCD Rights
Since DCD Rights acquired the international distribution rights to the Open University catalogue in May, this library of over 200 hours of primetime broadcast programming is already generating lucrative worldwide sales. A brand new Open University sales catalogue will be launched at the MIPCOM TV market this October, which will include additional new programming acquired since MIPTV.
DCD Rights recently sold three series of each of the hit reality shows Bridezillas (produced by DCD Media's September Films) and Marriage Boot Camp to ITV's brand new channel ITVBe.
Australian drama The Code premiered on ABC on 21st September and has so far been successfully licensed by DCD Rights to BBC Four as well as several major international broadcasters including DirecTV for Audience Network in the USA and Sundance Channel Latin America.
Production
In DCD Media's production division, Rize USA has secured a 4 x 60-minute re-commission of the hit series Liberty of London with Channel 4, following a three-part run which drew a consolidated audience of 2.2 million (8.1%) in December 2013. Liberty of London will be sold worldwide by DCD Rights as a 7 x 60-minute series.
September Films' revival of the classic game show Celebrity Squares launched on September 10th and is featuring on ITV primetime every Wednesday evening at 8pm.
For further information please contact:
DCD Media plc
Tel: +44 (0)20 8563 9393
ir@dcdmedia.co.uk
Stuart Andrews or Charlotte Stranner
finnCap
Tel: +44 (0)20 7220 0500