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Entertainment One buys Alliance Films
Monday September 10th 2012Entertainment One, co-owner of Peppa Pig and distributor of the Twilight vampire franchise, has acquired Alliance Films, which has rights to films including The King’s Speech and the movies made from Steig Larsson’s novels, in a deal potentially worth C$272m (£174m).
Entertainment One, which distributes films and TV shows including The Walking Dead and Rookie Blue, and co-owns Peppa Pig, has been pursuing Alliance Films since January.
Alliance, which finances and distributes films and controls an 11,000-title film library, counts films such as Lost in Translation, Pulp Fiction, Good Will Hunting, the Lord of the Rings trilogy and The Hunger Games in its stable.
E1, which has acquired Alliance from co-owners Goldman Sachs Capital Partners and the investment division of the Quebec government, decided to seek acquisitions after calling of a sale of its own business after offered failed to meet expectations.
E1 says that combining the companies will make the largest independent film distributor in the Canadian and UK markets with a library of 35,000 film and television titles.
Under the terms of the deal E1 will pay C$174.2m in cash and paying down Alliance’s net debt which stood at C$50.5m at 31 December.
In addition, up to C$35m will be paid to Alliance’s owners if some film titles E1 is taking control of exceed what it calls certain box office performance targets.
And another C$12m could also be paid to Alliance’s sellers if certain tax provisions end out being settled for less than the amount they are currently pencilled in on Alliance’s balance sheet.
E1 reckons that bringing the two companies together will make for C$20m in annual cost savings, after three years of ownership.
E1 was jointly advised by JP Morgan and Credit Suisse.
“As a result of the acquisition, Entertainment One will be a more competitive business in each of the geographic markets that we serve, allowing us to act as a more valuable partner for content producers and expanding the quality and depth of the content that we offer to our customers,” said chief executive Darren Throop.
“The combination of Entertainment One and Alliance creates a market leading film distribution business which alongside our television and family divisions will deliver a strong strategic platform for long term growth.”
Source: The Guardian
Front Page, Industry News
Entertainment One buys Alliance Films
Monday September 10th 2012Entertainment One, co-owner of Peppa Pig and distributor of the Twilight vampire franchise, has acquired Alliance Films, which has rights to films including The King’s Speech and the movies made from Steig Larsson’s novels, in a deal potentially worth C$272m (£174m).
Entertainment One, which distributes films and TV shows including The Walking Dead and Rookie Blue, and co-owns Peppa Pig, has been pursuing Alliance Films since January.
Alliance, which finances and distributes films and controls an 11,000-title film library, counts films such as Lost in Translation, Pulp Fiction, Good Will Hunting, the Lord of the Rings trilogy and The Hunger Games in its stable.
E1, which has acquired Alliance from co-owners Goldman Sachs Capital Partners and the investment division of the Quebec government, decided to seek acquisitions after calling of a sale of its own business after offered failed to meet expectations.
E1 says that combining the companies will make the largest independent film distributor in the Canadian and UK markets with a library of 35,000 film and television titles.
Under the terms of the deal E1 will pay C$174.2m in cash and paying down Alliance’s net debt which stood at C$50.5m at 31 December.
In addition, up to C$35m will be paid to Alliance’s owners if some film titles E1 is taking control of exceed what it calls certain box office performance targets.
And another C$12m could also be paid to Alliance’s sellers if certain tax provisions end out being settled for less than the amount they are currently pencilled in on Alliance’s balance sheet.
E1 reckons that bringing the two companies together will make for C$20m in annual cost savings, after three years of ownership.
E1 was jointly advised by JP Morgan and Credit Suisse.
“As a result of the acquisition, Entertainment One will be a more competitive business in each of the geographic markets that we serve, allowing us to act as a more valuable partner for content producers and expanding the quality and depth of the content that we offer to our customers,” said chief executive Darren Throop.
“The combination of Entertainment One and Alliance creates a market leading film distribution business which alongside our television and family divisions will deliver a strong strategic platform for long term growth.”
Source: The Guardian
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Front Page, Industry News
Entertainment One buys Alliance Films
Monday September 10th 2012Entertainment One, co-owner of Peppa Pig and distributor of the Twilight vampire franchise, has acquired Alliance Films, which has rights to films including The King’s Speech and the movies made from Steig Larsson’s novels, in a deal potentially worth C$272m (£174m).
Entertainment One, which distributes films and TV shows including The Walking Dead and Rookie Blue, and co-owns Peppa Pig, has been pursuing Alliance Films since January.
Alliance, which finances and distributes films and controls an 11,000-title film library, counts films such as Lost in Translation, Pulp Fiction, Good Will Hunting, the Lord of the Rings trilogy and The Hunger Games in its stable.
E1, which has acquired Alliance from co-owners Goldman Sachs Capital Partners and the investment division of the Quebec government, decided to seek acquisitions after calling of a sale of its own business after offered failed to meet expectations.
E1 says that combining the companies will make the largest independent film distributor in the Canadian and UK markets with a library of 35,000 film and television titles.
Under the terms of the deal E1 will pay C$174.2m in cash and paying down Alliance’s net debt which stood at C$50.5m at 31 December.
In addition, up to C$35m will be paid to Alliance’s owners if some film titles E1 is taking control of exceed what it calls certain box office performance targets.
And another C$12m could also be paid to Alliance’s sellers if certain tax provisions end out being settled for less than the amount they are currently pencilled in on Alliance’s balance sheet.
E1 reckons that bringing the two companies together will make for C$20m in annual cost savings, after three years of ownership.
E1 was jointly advised by JP Morgan and Credit Suisse.
“As a result of the acquisition, Entertainment One will be a more competitive business in each of the geographic markets that we serve, allowing us to act as a more valuable partner for content producers and expanding the quality and depth of the content that we offer to our customers,” said chief executive Darren Throop.
“The combination of Entertainment One and Alliance creates a market leading film distribution business which alongside our television and family divisions will deliver a strong strategic platform for long term growth.”
Source: The Guardian
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