Target Division Expands Book and Film Acquisitions
07 January 2010 - 2:26AM
Marketwired
Hannover House, the entertainment distribution division of Target
Development Group, Inc. (PINKSHEETS: TDGI) (Other:
www.TargetDevelopmentGroup.com, www.HannoverHouse.com), will more
than double its output of new release book titles in 2010, said
company CEO Eric Parkinson. Encouraged by strong presales of the
company's upcoming book release, "Made in the U.S.A." by
best-selling author Barr McClellan, Hannover will accelerate the
acquisition and release of other high-profile titles.
"Once a new book covers its initial releasing costs, the margins
to Hannover House can be substantial," said Parkinson. "On a
high-volume title like 'Made in the U.S.A.' the gross profit margin
can exceed sixty percent. Accordingly, we plan to release another
Barr McClellan book this Fall and more than ten other properties,
several of which have the additional benefit of being suitable for
development into feature films."
One of the existing Hannover House catalog titles, "Sacred
Prey," a suspense thriller by Vivian Schilling, has been optioned
by Warner Brothers Studios for potential production into a major
motion picture. Hannover House would like to develop more of its
book properties into feature films.
"Many of the top grossing films and film franchises of all times
were launched first as books," said Parkinson. "We think that the
book market provides Hannover House with a cost-efficient
opportunity to generate excitement for a story and better position
it for success as a feature film, which feeds into our other
corporate activities in media distribution."
The "Twilight," "Harry Potter" and "Lord of the Rings" book
series have each spawned a series of extremely successful movies,
which in turn, sparked new interest and sales in the books.
Hannover's new book acquisitions include titles that the company
feels are ideally suited for production into major motion
pictures.
New release books for Hannover House will be individually
announced over the next two months, and will be prominently
featured at the company's exhibit booth at the 2010 Book Expo
America conference in New York City.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking
statements within the meaning of Sections 27A & 21E of the
amended Securities and Exchange Acts of 1933-34, which are intended
to be covered by the safe harbors created thereby. Although the
company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, there
can be no assurance that these statements included in this press
release will prove accurate.
For more information on Target Development Group, Inc. and
Hannover House, contact: Richard Prudenti 479-751-4500 email: Email
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