Boomerang JV with Channel4 an

RNS Number : 5847X

Boomerang Plus PLC

18 August 2009

 



Date:                                18 August 2009

On behalf of:                    Boomerang Plus plc ('Boomerang' or 'the Group') 

Embargoed until:             0700hrs 

Boomerang Plus plc 

Boomerang in Joint Venture with Channel 4 and Sports Vision  

Boomerang Plus plc (AIM: BOOM.L), a multi-genre, independent television production group based in Cardiff, is pleased to announce that it has entered into a joint venture (JV) with broadcaster Channel 4 and events organiser Sports Vision to create Big Freeze Limited.

Big Freeze Limited is a production company created to organise and produce the Freesports on 4 Freeze live event franchise, the UK's biggest winter sports and music festival, as well as other broadcast related and advertiser funded events. As part of the new JV, Boomerang will produce three hours of programming for the second series of Freesports on 4 Freeze to be aired on T4 later this year. 

The festival is held at Battersea Power Station; a venue transformed into a real snow slope, 30m high by 100m in length, to host the LG Snowboard FIS World Cup, International Freestyle Ski Competition, and a number of music acts.

This is the first time a production company, broadcaster, and events organiser have collaborated to form a JV specifically designed to create broadcast events. Boomerang and Channel 4 both have a 25% interest in Big Freeze Limited with Sports Vision holding a further 50% share.

Commenting on the Joint Venture, Gareth Rees, Executive Director for Boomerang, said: 

"We are delighted to be working alongside strong brands such as Channel 4 and Sports Vision. Freesports on 4 Freeze was a massive success for us last year and this year is another great opportunity for Boomerang to showcase the work of its talented production team. 

"We continue to prove ourselves as a leading producer of freesports content and look forward to developing this three-way partnership and continuing to produce quality content for Freesports on 4."

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For further information, please contact:

Boomerang Plus plc	Via Redleaf Communications
Huw Eurig Davies, Chief Executive
Mark Fenwick, Finance Director
Gareth Rees, Executive Director
Redleaf Communications	020 7566 6700
Anna Dunkin/ Samantha Robbins	[e-mail]
Altium Capital	02074844040
Tim Richardson/ Melanie Szalkiewicz
Evolution Securities	02074884040
Adam Lloyd/ Tom Price

Notes to Editors: 

• The Group, founded in 1994, has extensive experience in producing content in a variety of genres, including youth programming, music, entertainment, children's programming, extreme sports and drama
• The market for independent television production companies in the Nations and Regions has grown following quotas from the regulator Ofcom, which require that, depending on the broadcaster, between 10 per cent. and 50 per cent. of qualifying programming hours must be sourced from outside the M25 boundary
• Boomerang is ranked in the top three independent television production companies, by revenue, in the Nations and Regions according to the Broadcast Survey (Nations and Regions) 2009
• The Board's strategy is both to achieve strong organic growth by leveraging the Group's existing customer base coupled with strategic acquisitions, with a view to becoming a major supplier to UK networks looking to satisfy their Nations and Regions quotas

 

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