By Tim Dams Australia’s Beyond International is to acquire U.K. distributor TCB Media Rights, previously owned by Kew Media Group, which became insolvent last month.
Beyond is buying TCB from FTI Consulting Canada Inc., the official receiver for Kew Media Group. The acquisition will be completed through Beyond’s Ireland-based subsidiary, Beyond Entertainment Limited (BEL).
In a statement to the Australian Stock Exchange, Beyond said it will acquire 100% of the share capital of TCB for cash and will also advance funding to TCB to repay an intercompany debt owing to Kew.
Financial details of the transaction were not revealed. However, Beyond said the deal, which will be paid for with cash and debt facilities, is worth less than 10% of
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