Shares in beleaguered film and TV group TEAM Communications climbed 20% to Euros1.27 today after it announced two distribution deals.
In the UK it signed a deal with Indigo Film and Television which will see Indigo handle international sales of TEAM's 2000-hour catalogue worldwide, except the Americas.
In the US October Moon Television was appointed to represent the TEAM library to broadcasters, cable channels and home video/ancillary outlets. TEAM's new chairman Michael J Solomon will personally handle library sales in South America.
All new programming will be represented directly by TEAM Communications Group.
TEAM recently closed its UK and German offices as part of a rationalisation programme, sparked by unexpected losses.
"This is a strategic move that should lay a cornerstone for Team's future profitability," said Solomon in a statement.
TEAM's shares are traded on the Neuer Markt and NASDAQ stock exchanges.