One of Australia’s largest independent companies, Shock Entertainment, has been acquired by DVD and CD manufacturing and distribution company Regency Media. Shock Entertainment’s assets have been acquired by Regency Media as a result of a collapse in bank funding associated with the global financial crisis and difficult trading conditions.
“The market needs a strong Australian owned company to support local industry. Regency and Shock will now give artists an even greater opportunity to compete on the world stage, while continuing to provide a solid home for our international partners,” said Regency Media, Managing Director, Ms Fiona Horman in a statement.
Shock’s Chairman David Williams said “Shock has a twenty-two year history of supporting over 15,000 artists, including 1,500 locals generating over AUD$200 million in royalties paid to date.” Williams added “Regency and Shock will give local artists an even greater opportunity to sell their talents, as we will have the complete supply chain from studio, manufacturing, distribution and marketing.”
