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Metrodome closes Target acquisition

Film distributor Metrodome has acquired distributor Target Entertainment after a long running purchase process.

Metrodome has acquired Target’s international distribution business as well as its production arms Target US and Pink Sands, although it will not acquire the company’s UK drama production arm Greenlit, producer of series including Collision and Foyle’s War.

Metrodome has paid £800,000 (US$1.2 million) and will invest a further £3 million into the business.

Target founder Alison Rayner will remain as chief executive and will take up a seat on the board.

The acquisition of Target has been ongoing for months; at the start of August Metrodome, in fact, called off the purchase and announced that the two parties couldn’t agree on a fee.

Target distributes a range of programming from kids series including Fifi and the Flowertots and formats including Tool Academy and Hogan Knows Best.