Beyond International has agreed a deal to acquire the UK-based factual distributor TCB Media Rights from the receivers of the failed Kew Media Group. The price was not disclosed.
TCB’s portfolio includes CJZ’s Go Back To Where You Came From, Media Stockade’s Debi Marshall Investigates: Frozen Lies and international docs Extreme Ice Machines, Hitler’s Supercars and Egypt’s Unexplained Mysteries.
Receivers FTI Consulting Canada have been looking for buyers of Kew Media’s assets since the media company collapsed in February.
Beyond CEO Mikael Borglund said he expects the acquisition to significantly increase the scale of the Beyond Distribution business. He added: “Over the first 12 months, it is anticipated that the acquisition will be cash-flow positive and earnings-per-share accretive to BYI.”
Meanwhile the ongoing Covid-19 pandemic has forced Beyond to close its offices in London, Dublin, Los Angeles and Brisbane, with staff working from home. Essential staff are manning the Sydney office and the rest are working remotely.