Zodiak completes RDF acquisition

New media group will have annual sales exceeding E500 million.
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Zodiak Entertainment has completed its acquisition of RDF Media Group.

David Frank, the founder of RDF, has been appointed as CEO of Zodiak Entertainment. Lorenzo Pellicioli, CEO of De Agostini Group and chairman and CEO of Zodiak, will continue to serve as chairman of the new enlarged group.

As a result of the deal, Zodiak is about 71 per cent owned by De Agostini, with the remaining 29 per cent of capital owned by Zodiak managers - including RDF managers - and funds managed by Cyrte Investments.

"The content business is both changing rapidly and becoming more global by the day and this is a huge opportunity to be at the very heart of this revolution," said Frank. "In my opinion to succeed you need two things - brilliant creative executives and scale. This deal delivers both and I am confident that the Zodiak management team can build a world-beating company."

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