Zodiak targets Bullseye

Scandinavia’s second biggest production group Zodiak Television is to acquire London-based distribution and production company Bullseye TV, its second UK production acquisition.

The deal sees assets from Zodiak Television World, the group’s Copenhagen-based distribution company, merged with Bullseye TV and its distribution activities moved to London, where they will be wholly owned by Zodiak Television.

The deal, which is subject to due diligence and final agreements, is expected to be finalised before the end of September. Heather Stevenson, MD of Zodiak Television World and VP of distribution at Zodiak, will not be a part of the new London operation.

“I found Bullseye TV and I think they are the perfect merger candidate, even though it means that my position will disappear when the operations combine later in the year, since I cannot move from Copenhagen for personal reasons,” said Stevenson.

She claimed that in order for Zodiak to achieve its growth ambitions as a distributor, it needs to be based in London and “have a much bigger critical mass.”

Zodiak Television Group recently strengthened its foothold in the Russian and CIS markets by acquiring a 75% stake in the Ukraine’s second largest production company, YS Films, through its Russian subsidiary Dixi Media.

As a result of the UK acquisition, Bullseye will now trade as two distinctive brands under one roof: a production outfit with a special focus on content management and new platforms, and a distribution division.

The production division will continue to trade as Bullseye TV, while the distribution company will assume assets from Zodiak and re-brand itself as Zodiak Television World, dealing in formats, clips, finished programmes and drama.

Jorg Roth, founder, MD and majority shareholder of Bullseye, will join the Zodiak group management team and head both divisions. Bullseye also runs its own internet TV channel on the Joost IPTV platform, called Braindead.

Patrick Svensk, president and CEO of Zodiak Television, said Bullseye’s ideas, output and clients are a “great complement” to Zodiak’s other UK prodco, Diverse Productions, adding that he expects to see “substantial synergies between the two.”

Bullseye manages the rights to shows such as Court TV police chase show Cops Uncut, which airs in the UK on Bravo; How it Works for National Geographic; and Animal Crackers for Animal Planet. These will now join Zodiak Television World’s own TV formats, which include The Big Class Reunion, Friends Forever, The Empire, Stars on Stage, Beyond Boundaries and Codex.

“Bullseye’s development in international distribution, in content management and production in the UK is really impressive and I am certain that through merging our distribution activities we will create one of the strongest players in the international arena,” commented Svensk.