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Wednesday, January 06, 2010 10:27:59 AM
NEW YORK, NY, Jan 06, 2010 (MARKETWIRE via COMTEX) -- 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 Br others 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 wi ll 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.
For more information on Target Development Group, Inc. and Hannover House,
contact:
Richard Prudenti
479-751-4500
email: Email Contact
SOURCE: Target Development Group and Hannover House
CONTACT: &nb sp;http://www2.marketwire.com/mw/emailprcntct?id=10371B4DD59B46D2
Copyright 2010 Marketwire, Inc., All rights reserved.
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SUBJECT CODE: Financial Services:Investment Services and Trading
Media and Entertainment:Movies
Media and Entertainment:Books and Publishing
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