Communicado sells down stake

Television production companies Communicado and Screentime are to consolidate. Communicado said yesterday it had sold a major shareholding to Screentime with a view to consolidating the operations of the two companies.

There has been speculation about Communicado's ownership since its founder, the late Neil Roberts, left the company to take up a role with TVNZ.

Communicado joint managing directors Robin Scholes and Alan Withrington said the deal was the ideal way forward for Communicado.

They said it was harder and harder to operate smaller businesses.

Wellington production company Ninox Films was placed in receivership last month despite making seemingly successful productions.

Screentime is known for its top-rating manufactured girl group show Popstars, a local format successfully transferred to Australia.

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June 25th Morning Report