Compact Media Group announced that it has appointed Richard Green as its Executive Chairman in addition to bringing on Lyceum Capital as a new investor.
For more information visit: www.compactmediagroup.com ; www.lyceumcapital.co.uk
Unedited press release follows:
COMPACT MEDIA GROUP APPOINTS RICHARD GREEN AS NEW EXECUTIVE CHAIRMAN AND ANNOUNCES NEW INVESTORS
Compact Media Group, the leading independent rights administrator and distributor of secondary TV and film rights revenues, has announced the appointment of Executive Chairman Richard Green and new investors in the form of Lyceum Capital which has invested £17 million to drive the growth and development of the business.
Established in 1995, the London based firm has offices in Los Angeles, Amsterdam, Sydney and Paris and has successfully claimed and distributed over EUR€125 million in royalties on behalf of its worldwide clients.
The deal will see Compact led by new Executive Chairman Richard Green and existing CEO John O’Sullivan, with Lyceum Capital providing strategic input and additional capital to further develop the business. Lyceum Capital’s investment is a majority stake previously held by founding shareholders.
Richard Green’s experience in the media sector spans 20 years. Most recently, he was one of the key architects behind the formation of 2entertain in 2004 where he held the position of CEO until September 2009. The 2entertain group includes one of the UK’s largest TV video publisher and Demon Music, the UK’s fifth largest record label. Richard has a strong track record of developing and growing companies.
Richard Green, incoming Executive Chairman for Compact Media Group, said: “Intellectual property is the lifeblood for creators and this is especially pertinent for rights holders in the film and TV industries. Compact has consistently raised the bar in terms of collection and service for its clients and is greatly respected. “I am especially looking forward to meshing the prowess of John O’Sullivan and his team with the complementary strategic and financial support from Lyceum Capital to create new opportunities for our clients throughout the world.”
John O’Sullivan, CEO, Compact, commented: “It is truly fitting that as we enter our 15th full year of trading that we do so with heightened aspirations and a strengthening of our team. In Lyceum we have found a dedicated and astute financial partner for us; and by securing Richard Green as our incoming Executive Chairman we are well placed to seize on further opportunities for our clients, old and new alike.”
The deal follows another successful quarter for Compact, with notable recent signings including: Hat Trick International, So Television, Rive Gauche TV, Westchester Films, Ten Alps, Teamto SAS, Splash Media TV, Oxford Film & Television, Blink Films, John McLean Media and Channel X Ltd.
Compact provides a broad range of collection and administration services to the creative industries which maximise royalty income for intellectual property rights owners such as producers, distributors, broadcasters, as well as government backed agencies and financial institutions.
Compact Media Group is the world’s leading independent rights administrator and distributor of royalties arising from secondary rights in TV and Film – this covers simultaneous cable retransmission, private copy levy and educational off air recording.
Retransmission revenues applies to all territories where appropriate cable (and satellite in some cases) legal frameworks exist – mainly Europe, Australasia and the US. However these mechanisms do not apply in the UK, which means UK cable (or satellite) broadcasters are exempt from compensating rights holders when they re-transmit an original broadcast signal.
Compact represents over 300 companies including BBC Worldwide, ITV Global Entertainment, Scottish Media Group, Icon, FremantleMedia, Channel 4, Discovery Communications, National Geographic, Echo Bridge and several of the UK’s largest independent producers, ALL3MEDIA, Shed & Hat Trick. In addition to the core business, Compact has evolved to include Collection Account Management (CAM) services and Music IP rights collection (Compact Music Services) on behalf of their international client base. Compact Capital looks to acquire IP catalogues across the breadth of the creative industries. Compact Media Group is based in London with offices in Los Angeles, Amsterdam, Sydney & Paris.
Lyceum Capital is an independent investment firm that invests in innovative and growing mid-sized UK-headquartered businesses; having acquired over 60 businesses in the UK and internationally over the last ten years. Lyceum plans to invest a further £300 million in the UK over the next two to three years[*]. Lyceum Capital makes highly targeted investments in mid-sized businesses with the potential to become larger participants in fragmented and growing sectors; and has a strong track record across a number of industries.
Lyceum Capital works alongside management teams to increase scale by driving growth through investing in infrastructure and improved operations as well as sourcing and funding complementary acquisitions in the UK and internationally. Through a combination of investment, operational and strategic input Lyceum Capital helps management build robust and successful businesses with good long-term growth prospects.
*[e.g. equity and debt]