Cinram acquires The Entertainment Network Ltd. in the United Kingdom
Cinram International Inc. today announced that, through its wholly owned subsidiary, Cinram Europe BV, it has acquired all of the shares of The Entertainment Network Ltd. (TEN), a joint venture of Sony Music Entertainment (U.K.) Ltd. and Warner Music U.K. Ltd. specializing in the distribution of entertainment media.
"TEN is the largest entertainment distribution operation in Europe and offers complete order-to-cash supply chain services," said Cinram chief executive officer Isidore Philosophe. "This acquisition represents an important strategic fit with Cinram's existing business and will significantly bolster our market presence in the United Kingdom and Europe."
Under the terms of the acquisition, TEN will retain its trade name and will continue to distribute on behalf of Warner Music U.K. and Sony Music U.K. in the United Kingdom and the Republic of Ireland from its current facilities.
TEN was established in 1999 to provide distribution services to Sony Music Entertainment (U.K.) Ltd. and Warner Music U.K. Ltd. Today, it distributes CDs, DVDs, computer games software as well as other audio and video formats on behalf of Sony Music, Warner Music and other leading studios, labels and independents from its facility in Aylesbury, Buckinghamshire. TEN provides a complete range of distribution services such as order processing, warehousing, shipping, invoicing and returns processing. It distributes to more than 10,000 audio, video and games outlets, and has over 400 employees.
Cinram International Inc. is the world's largest independent provider of pre-recorded multimedia products and logistics services. With facilities in North America and Europe, Cinram manufactures and distributes pre-recorded DVDs, VHS video cassettes, audio CDs, audiocassettes and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. The Company's shares are listed on the Toronto Stock Exchange (CRW) and are included on the S&P/TSX Composite Index. For more information, visit our Web site at www.cinram.com.
Source: Cinram International Inc.