TV-Loonland builds UK video presence

German kids TV giant TV-Loonland has upped its presence in the UK's home entertainment sector after acquiring a further 50m shares in the DVD and video distributor Metrodome Group.

The deal, worth some £1.5m, means that the German company now owns 75% of the UK firm, from its previous holding of 54%.

The move is the latest in a number of incremental increases in TV-Loonland's stake in the company: the German outfit took 30% of the then struggling distributor back in October 2001, and a further 24% in August last year.

Of the latest deal, TV-Loonland's head of home entertainment, Dr Markus Schaefer said: {This investment will tie Metrodome even more closely to the TV-Loonland group, while at the same time improve the working capital of the Metrodome Group. As a Loonland subsidiary, Metrodome is now firmly embedded in our European expansion plan.{

A restructuring plan, begun in spring last year, has seen the closure or sale of loss-making businesses within Metrodome, as well as an overhaul of the staffing and management structure.