Madman Entertainment co-founders and joint managing directors Tim Anderson and Paul Wiegard have agreed on the key terms to buy the theatrical and entertainment distributor from parent company Funtastic.
Madman Entertainment is for sale. Toy, clothing and confectionery company Funtastic, which bought the distributor for $34.5 million in 2006, told the ASX it expects to finalise the sale before it announces its first half results.
Tim Winton's The Turning has sold more than $200,000 worth of tickets before its September 26 debut on 16 screens around Australia.
Australian cinemagoers can look forward to watching most of the US and European films that created heat among buyers and critics at the just-concluded Toronto International Film Festival.
'A Letter to Momo' announced as the third film of the REEL ANIME 2013 program.
The film which caused visceral reactions at the Sydney Film Festival will require careful handling according to the Australian distributor.
Local distributor Madman Entertainment has posted an annual profit of $9.86 million (before centralised costs) despite facing a challenging home entertainment market
The toy distributor and manufacturer owns Madman and some of the funds will help drive digital distribution