Zodiak buys Bullseye TV

Scandinavian group Zodiak Television is to acquire London-based production and distribution company Bullseye TV. [ALL]

Scandinavian group Zodiak Television is to acquire London-based production and distribution company Bullseye TV.

Under the terms of the deal Bullseye will take over the international distribution of Zodiak's programming through the creation of a new London-based distribution company.

The deal is expected to be completed before the end of September.

The two companies' combined distribution activities will operate under the Zodiak Television World brand and will be headed up by Jorg Roth, managing director and founder of Bullseye.

Roth will also continue to head up Bullseye TV's production division and will join the Zodiak group management team.

'This is a perfect match where our companies' distribution activities complement each other perfectly from a programming point of view and our companies' production activities in the UK from a customer point of view,' said Roth.

Currently based in Copenhagen, Zodiak Television World has built a successful formats distribution business but has struggled to break into the UK and US. Current managing director Heather Stevenson will step down following the completion of the deal.

Established in the late 90's, Bullseye is best known for reality and factual entertainment shows such as Cops Uncut(produced for Court TV in the US and Bravo in the UK), How it Worksfor National Geographic and Animal Crackers(pictured) for Animal Planet.

According to the latest Broadcastdistribution survey, the company's turnover from distribution for the 12 months ended June 30 2007 was £3.2m.

'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,' said Zodiak chief executive Patrick Svensk.

Zodiak already owns UK indie Diverse, which it acquired last October for £8m.