SOURCE: Target Development Group and Hannover House

January 06, 2010 10:26 ET

Target Division Expands Book and Film Acquisitions

New Literary Properties for Hannover House Expand 2010 Slate

NEW YORK, NY--(Marketwire - January 6, 2010) - Hannover House, the entertainment distribution division of Target Development Group, Inc. (PINKSHEETS: TDGI) (Other: www.TargetDevelopmentGroup.com, www.HannoverHouse.com), will more than double its output of new release book titles in 2010, said company CEO Eric Parkinson. Encouraged by strong presales of the company's upcoming book release, "Made in the U.S.A." by best-selling author Barr McClellan, Hannover will accelerate the acquisition and release of other high-profile titles.

"Once a new book covers its initial releasing costs, the margins to Hannover House can be substantial," said Parkinson. "On a high-volume title like 'Made in the U.S.A.' the gross profit margin can exceed sixty percent. Accordingly, we plan to release another Barr McClellan book this Fall and more than ten other properties, several of which have the additional benefit of being suitable for development into feature films."

One of the existing Hannover House catalog titles, "Sacred Prey," a suspense thriller by Vivian Schilling, has been optioned by Warner Brothers Studios for potential production into a major motion picture. Hannover House would like to develop more of its book properties into feature films.

"Many of the top grossing films and film franchises of all times were launched first as books," said Parkinson. "We think that the book market provides Hannover House with a cost-efficient opportunity to generate excitement for a story and better position it for success as a feature film, which feeds into our other corporate activities in media distribution."

The "Twilight," "Harry Potter" and "Lord of the Rings" book series have each spawned a series of extremely successful movies, which in turn, sparked new interest and sales in the books. Hannover's new book acquisitions include titles that the company feels are ideally suited for production into major motion pictures.

New release books for Hannover House will be individually announced over the next two months, and will be prominently featured at the company's exhibit booth at the 2010 Book Expo America conference in New York City.

SAFE HARBOR STATEMENT

This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate.

Contact Information

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