Deluxe confirms $50 million Ritek deal. (Up Front: Industry News).(Deluxe Media Services finalizes joint venture with Ritek Global Media)(Brief Article)

Tape-Disc Business, August, 2002

Confirming a report first published in TDB last C month, Deluxe Media Services parent company Rank Group said it had finalized a $50 million deal with Ritek Global Media (RGM). Announced on July 19 as a "joint venture", the newly formed Deluxe Global Media Services (DGMS) will combine the DVD assets of Deluxe and Ritek in North America and Europe and will be 80 percent owned by Deluxe. Sources tell TDB that the staffs of the two companies will be largely merged.

The major studio and other contracts held by Ritek -- considered by many to be the key asset of the deal, even more so than DVD manufacturing capacity - will be transferred to the joint venture. The move complements Deluxe's extensive distribution capabilities.

As part of the deal, Deluxe will...

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