Barnett sells South Pacific Pictures stake

WILLIAM MACE
Last updated 17:29 09/04/2013

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South Pacific Pictures chief executive John Barnett has sold his stake in the production company to its United Kingdom-based majority shareholder All3Media.

Documents filed with the Companies Office show Barnett's stake, held by Endeavour Entertainment Limited, was transferred to All3Media on April 5.

South Pacific Pictures produces local shows such as Shortland Street, Go Girls and Nothing Trivial as well as films like Whale Rider and Sione's Wedding.

There was no sale price mentioned for the 1.8 million shares, which had been held by companies ultimately owned by Barnett and Alastair Lawrence.

Barnett could not be reached as he is currently attending a trade show in France.

Barnett led a management buy-out of South Pacific from Television New Zealand ownership in 1998.

All3Media - one of Britain's largest production companies - bought into the company in 2005.

South Pacific Pictures follows fellow Kiwi production companies Screentime and EyeWorks Touchdown, the latter formerly owned by local interests including Julie Christie, into foreign ownership.

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- BusinessDay.co.nz

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