Media rights group ContentFilm has revalued its library 52 per cent to £41 million and remains acquisitive as bid talks continue.

Chaired by financier Alton Irby and steered by chief executive John Schmidt, AIM-quoted ContentFilm says the library revaluation was conducted by ‘one of the world’s foremost independent library valuation companies’. ContentFilm, created in 2004 by the reverse takeover of bombed-out Winchester Entertainment, says the revaluation will expand its capacity to borrow for various operations.

The company, which last year turned a £3.5 million loss into a £1.5 million pre-tax profit, recently acquired the rights to sell and manage a US library of drama and animation TV programming with more than 300 hours of product. ContentFilm takes its reward in distribution fees and says gross revenues in the first month since the deal have been £375,000.

ContentFilm says it has a loan facility sufficient to fund its product acquisition strategy and confirms it is in ‘active discussions with third parties which may or may not lead to an offer being made for the company’. At 19p, up from a mere 1.78p two years ago though off their 24.5p high last June, the shares value ContentFilm at £33 million and offer speculative appeal.

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