Entertainment One completes acquisition of Sierra Pictures

Entertainment OneEntertainment One has completed the purchase of the remaining stake in feature film production and global sales company Sierra Pictures, in which it first invested in 2015. As part of the move, Nick Meyer and Marc Schaberg have joined the company as president of film and executive VP of film and global operations, respectively. The terms of the transaction were not disclosed.

Sierra Pictures has backed the likes of “Tully,” “American Animals,” and the upcoming adaptation of James Frey’s “A Million Little Pieces.” In his new role, Meyer will oversee all film content across eOne, while remaining CEO of Sierra/Affinity, the international sales company that is wholly owned by eOne. Schaberg will also continue as COO of Sierra/Affinity in addition to taking on his new role at eOne. Sierra/Affinity will remain independently operated.

eOne’s CEo Darren Throop said, “Welcoming Sierra to eOne is an important next step in our strategy to increase our direct involvement and ownership in content. Together, we will continue to build strong relationships with high-profile creative talent domestically and abroad”.

Canada, Toronto & USA, Beverly Hills, CA

Related articles:

Kew Media Group to acquire Essential Quail Media Group

Kew Media GroupKew Media Group Inc. has agreed to acquire Essential Quail Media Group for an initial purchase price of AUD$32.8 million (C$31.9 million based on the current CAD/AUD FX rate of approximately 0.972), comprised of AUD$20.0 million (C$19.4 million) in cash and AUD$12.8 million (C$12.4 million) in Class B shares of KEW valued at C$10.00 per share.

EQ Media combines several entities with aggregate pro forma revenue of over AUD$60 million (C$58 million). The initial purchase price represents a transaction multiple of approximately 3.2x EQ Media’s estimated Adjusted EBITDA of AUD$10.2 million (C$9.9 million) for its fiscal year ending June 30, 2018. The cash portion of the initial purchase price will be funded through cash on hand and KEW’s credit facilities. The vendors may receive additional consideration in the future, conditional upon EQ Media meeting certain financial targets and other tests, which are described below.

EQ Media is a leading independent producer of high quality content for international audiences operating from offices in Los Angeles and Dallas-Fort Worth in the U.S. and Sydney, Australia. EQ Media produces content in a variety of genres, particularly non-scripted television series, for broadcast customers worldwide. Buyers of EQ Media’s programming include DIY, HGTV, Cooking Channel, Animal Planet, ABC Australia, SBS, Foxtel Networks 7, 9 & 10, BBC, National Geographic, PBS, Discovery, Sundance, History Channel, Arte, Netflix and Fox Network. EQ Media also has a longstanding relationship with Scripps Networks (now part of Discovery Inc.), producing more than a dozen full series orders and pilots together.

Steven Silver, KEW Founder & CEO, said, “EQ Media is an exciting addition to the KEW group and the transaction purchase price is an attractive valuation for such a prominent content producer. We expect the acquisition to be immediately accretive to earnings and to free cash flow. In addition, we expect to generate meaningful synergies from the sale of additional EQ Media content through KEW’s global distribution platform.”

Canada, Toronto & USA, Los Angeles, CA