27th May 2016 15:25
LONDON (Alliance News) - DCD Media PLC on Friday said it will make a number of redundancies in its production division, as it has seen a poor uptake of commissions outside of its two key franchises due to challenging trading conditions.
It will now focus on those two franchises, 'Penn and Teller: Fool Us in Vegas' and 'Got What it Takes?'.
The company said its DCD Publishing division is being absorbed into its DCD Rights business, and will no longer operate as a separate business.
DCD Media added that its results for 2015 were in line with its expectations, and it will report these full-year results next Thursday.
Elsewhere, the company noted that it is unlikely that amounts it owes to its 61.4% parent, Timeweave Ltd, can be settled in the short term, and as a result it is looking for ways to formalise the debt.
Shares in DCD Media were untraded at 255.00 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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