Springdale, AR (PRWEB) December 9, 2009
Target Development Group, Inc. (Pinksheets: TDGI - News) (Other: http://www.TargetDevelopmentGroup.com, http://www.HannoverHouse.com), a Wyoming based development corporation, has acquired entertainment distributor Hannover House in a stock-for-stock swap venture that immediately elevates the stature of both entities. Hannover House, established in 1993, owns or controls over $15-million in assets, including a film library, literary properties and motion picture production equipment and facilities. The newly merged entities will continue to trade stock under the TDGI.PK symbol, but will release films, videos and books under the Hannover House brand name.
Simultaneous with the December 1st merger transaction, the officers and directors of Target were restructured to add Hannover House executives to the board, with Eric Parkinson also tapped as Chairman / CEO and Fred Shefte as President.
Additional information on these and other corporate developments for Target and Hannover House will be published in the Initial Information and Disclosure Statements to be available for TDGI via the Pinksheets website at http://www.Pinksheets.com.
Hannover House is the releasing label for Truman Press, Inc., which is the corporate entity acquired by Target under this venture. Hannover House has an impressive slate of new films, videos and books for release during 2010 to supplement revenues from the company's library of seventy-five properties currently in release. Additionally, strategic relationships with suppliers representing multiple titles will be announced in the coming weeks, collectively providing Hannover and Target with more than 30 titles for release during 2010. Each of the key new release titles will be announced separately.
Eric Parkinson is a veteran of the film distribution industry, with 27 years of experience including a high profile position as CEO at Hemdale Communications, Inc. Fred Shefte has over 35 years of business experience, working primarily as an attorney and banker. Their support staff includes middle management positions in marketing, sales, operations and finance, collectively performing all of the duties required to properly maintain current reporting status for the newly combined Hannover-Target entity.
Principal offices, warehousing and production facilities for Hannover House are located in Springdale, Arkansas, in close proximity to the world headquarters for WalMart Stores, Inc., the nation's largest retailer for DVDs and Blu-Ray discs. Other key retail accounts for Hannover House book and video products include Amazon.com, Barnes & Noble, Best Buy, Blockbuster, Borders, Christian Book Outlet, Family Christian Stores, Hastings, Hollywood Video, Movie Gallery, Netflix and SAMS Clubs.
For more information contact: Fred Shefte, Hannover House, 479-751-4500
Email: dfs.hannoverhouse (at) sbcglobal (dot) net