Serial entrepreneur Luke Johnson, the former chairman of Channel 4, has taken a nine per cent stake in Metrodome, a film distributor.
Luke Johnson’s investment comes as Metrodome snapped up Hollywood Classics, which owns a library of more than 600 films, including Breakfast at Tiffany’s, The Godfather and Psycho.
Metrodome is paying £1.6m for the Kentish Town company, financed through a ?967,000 share placing supported by Luke Johnson, who will become a non-exec in Metrodome.
“This important acquisition is the next step in our mission to become one of the leading independent rights-management groups in the UK, providing independent producers and other intellectual property owners with a comprehensive solution for worldwide exploitation of their IP and content across all platforms,” says Mark Webster, chairman of Metrodome.
Last year, Hollywood Classics made a pre-tax profit of £510,000 on revenues of ?6.7m.