Zodiak in early stage takeover talks with Entertainment One

Samantha Loveday

By Samantha Loveday

December 7th 2011 at 10:50AM
Zodiak in early stage takeover talks with Entertainment One

Telegraph reports firm is considering potential £400m reverse takeover of Peppa Pig owner.

Following yesterday's news of Sanrio eyeing up the Mr Men franchise from Chorion, it has emerged that Zodiak Media Group is in talks about a potential £400 million reverse takeover of Entertainment One.

The Telegraph has reported that the transaction would create one of the largest television production and distribution businesses in the world, with around £1 billion in annual revenues.

Zodiak apparently considers eOne as a way of floating in a difficult market and accessing Canada's tax credits for certain types of production.

eOne confirmed back in September that it was considering 'strategic options', including the sale of the business after receiving a number of offers.