Hollywood Classics Sales Label Bought by U.K.'s Metrodome
Theatrical rights to Hollywood output of yesteryear under new ownership in $2.6 million deal.
LONDON – Hollywood Classics, the sales and distribution label for the theatrical distribution and marketing of classic film libraries from Universal, Paramount, Twentieth Century Fox, Warner Bros. and the U.K. Film Council, has been bought by U.K. independent distribution, sales and finance banner Metrodome Group.
The $2.6 million deal sees the British company, listed here on the stock exchange, snap up the label and give the U.K. company “access to major studios and vital international distribution networks.” Titles on Hollywood Classics’ shelves include Breakfast at Tiffany’s, The Godfather and Psycho.
It should also create substantial cross-selling opportunities and potential for increased Group revenues, Metrodome said.
In the full year to end 2010 Hollywood Classics posted annual revenues of £6.7 million ($10.8 million) and a pre-tax profit of £510,000 ($810,000).
The Metrodome management team is bolstered through the deal with Steve Winetroube moving from his current Metrodome role as a non-executive director to a full time role as chief operating officer for the group while Peter Urie, who exited Metrodome over a year ago, returns as chief executive officer of Hollywood Classics.
Metrodome chairman Mark Webster said the acquisition was a step in the group’s ambition to become “one of the leading independent rights management groups in the U.K. providing independent producers and other intellectual property owners with a comprehensive solution for worldwide exploitation of their IP and content across all platforms.”
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