France's Zodiak closes RDF deal
New production giant boasts annual sales of $613 milPARIS -- France's Zodiak Entertainment has acquired U.K. indie production and distribution group RDF Media, both groups confirmed Wednesday.
RDF's CEO David Frank was named CEO of Zodiak Entertainment and CEO of Zodiak's parent company De Agostini Group. Lorenzo Pellicioli will serve as chairman of the new expanded group.
De Agostini now holds a 71% stake in Zodiak, with the remaining 29% owned by Zodiak and RDF managers and funds managed by Cyrte Investments BV.
The new group boasts annual sales of more than €500 million ($613 million). "The content business is both changing rapidly and becoming more global by the day and this is a huge opportunity to be at the very heart of this revolution," Frank said of the deal.