Metro Interactive has agreed to acquire Video Team, the company announced today.
Under the deal, Metro acquires Video Team’s movie library, including the rights to future releases and its Afro-Centric Productions and Ethnicity Film lines.
“The consolidation of the two companies will allows the benefit of expanding our current lines, while improving customer service and increasing distribution worldwide,” said Metro’s owner Kenneth Guarino.
The deal, scheduled to close next Monday, also means Video Team owner Christian Mann will assume the executive vice president post with Metro. He will handle sales, marketing and creative direction for both companies.
“The synergy of a combined Metro and Video Team promises to benefit both sides,” Mann said.
“Our product lines are diverse enough to supplement rather than compete with each other.”
Among those joining Metro will be longtime Video Team staffers Kimberly Wynn, Maricela Preciado, Amy Willens and Sarah Sasner.
Metro said all Video Team contracts remain in effect. All correspondence and telephone calls will be forwarded to Metro’s Chatsworth, Calif. headquarters.
Other details of the deal were not available.
For more information, please contact Pamela Anderson at (818) 885-2800 or
Scott Hoover at (818) 455-6784 [email protected].
