The agreement, which will go into effect next Monday, covers all Video Team lines, including Afro-Centric Productions and Ethnicity Film.
Once the deal is complete, Video Team will shift operations to Metro’s Chatsworth warehouse, with Video Team’s Christian Mann becoming vice president of Metro, where he will head up sales, marketing and creative direction for both companies.
However, Mann was quick to point out that the deal is not a merger of the two companies.
“This is not a [company] purchase,” he told XBiz. “Metro bought Video Team’s library and distribution rights, and they also retained my services and the services of a lot of my staff.”
A number of other Video Team employees will join Mann in the transition, including production associates Kimberly Wynn and Maricela Preciado, accountant Amy Willens and sales associate Sarah Sasner.
Mann said he sees the companies fitting together in two ways.
“One is that my staff absolutely compliments theirs,” he said. “As far as our products, they are two very different lines. What we bring to the table with out Afro-Centric and Ethnicity Film lines, in particular, are genres and products that Metro hasn’t traditionally focused on. It gives them something to distribute and market that the haven’t been doing until now.”
Metro’s lines, he added, are strong in areas Video Team that hasn’t pursued aggressively, such as high-end features and gonzos. Similarly, he said, Metro has a substantial presence in foreign markets, where Video Team does not, whereas Video Team has deeper broadcast penetration than Metro.
Mann compared the agreement to Nike’s deal with Converse, noting that the two company’s lines will compliment each other rather than compete for the same market space.
“The goal is to play to eachother’s strengths and create one strong company,” he said.
“The consolidation of the two companies will allow us the benefit of expanding our current lines, while improving customer service and increasing distribution worldwide,” Metro owner Kenneth Guarino added.
Metro said the deal does not effect existing Video Team contracts or agreements, and phone number calls and emails directed to Video Team will be forwarded to Metro’s offices.
