Owens Group to buy video firms?

Press, 28 February 1984, Page 11

Owens Group to buy video firms?

PA Auckland The Tauranga-based Owens Group wants to buy into Video Workshop and Genesis Sound, the television commercial-making arms of City Television. The group’s general manager, Mr Don Shelton, said in Auckland that it was not trying to take over City Television, a company pressing for a private television licence. Video Workshop, based in Wellington, has been in receivership for about a month but several confident statements about its ability to survive have been issued. Confirming the Owens Group interest, Mr Shelton said that arrangements to buy the assets of both Video Workshop and Genesis, which is based in Auckland,

were almost completed. “It is a most exciting development for us. and gives us an opportunity to invest in the growth area of video and general recording,” he said. “We recognise that the level of expertise is critical in this area." The group said that it was confident of retaining the level of existing staff — who have been on a week-to-week contract since the going into receivership — but it would also seek senior-level management for the new asset. “A change of name is being contemplated,” said Mr Shelton. Both the Video Workshop and Genesis studios were set up by the managing director of City Television, Mr Andy Tyler.