TV producer Justin Bodle has regained control of Power Entertainment Media, the independent production house he founded in 1995.
The acquisition was made by the Emmy Award-winning producer’s Purecom Entertainment International, the media investment group he established (http://www.c21media.net/mentorn-alum-enters-hot-house/) at the beginning of the year.
Purecom also previously backed the £3m (US$4.35m) Hot House initiative, the indie incubator he recently set up with veteran producer Remy Blumenfeld in April (http://www.c21media.net/blumenfeld-bodle-open-hot-house/) .
In a statement, Bodle said that plans to transform the business are already in the pipeline.
“I’m really excited to have this wonderful brand back. The world has changed so much since I created Power and I look forward to announcing the new strategy and new plans that will integrate what we’ve been doing over the past 18 months as we rebuild Power into a new 21st century distribution business for the global marketplace,” said Bodle.
“Power will be working across all genres and re-establishing its strong ties with the advertising industry as we create new strategies for the digital world.”
Power, which was behind TV series such as Henry VIII and Daniel Craig-starring Archangel, was forced into administration by Lloyds Banking Group in September 2010, as first reported by C21.
The company’s slide into administration was met with anger by Bodle back in 2010, who told then C21 that Lloyds had “decided to kill the golden goose,” despite it being able to pay back its debt.
Power was then acquired (http://www.c21media.net/sabido-deal-rescues-power-corp/) by Sabido Investments, an African firm helmed by Marcel Golding, owner of free-to-air South African channel e.tv.
Bodle’s 100% buyout includes all rights and the company will continue to operate from Power’s existing London headquarters in Gresse Street.
The re-launched firm is expected to make a string of announcements in the run-up to Mipcom next month.