Entertainment One has steadily been detailing a new executive structure following its takeover of rival Canadian giant Alliance Films in a $230M deal that was completed last month. Execs were quickly named for the UK and Spain operations and the latest announcement concerns its operations closer to home where eOne and Alliance have significant overlap. Here’s the release:
Montréal/Toronto/London – February 11, 2013 – Entertainment One (“eOne” or “the Group”) announces the Group’s Canadian Film leadership team, following its acquisition of Alliance Films announced January 9, 2013.
Patrice Théroux, who leads eOne’s global Film business, today confirms that David Reckziegel, will continue to oversee all North American Film operations, including the combined Canadian group, as President, eOne Films North America.
The Company also announces that Bryan Gliserman and Noah Segal will oversee eOne Films Canada, including the former Alliance Films teams, as Co-Presidents.
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With eOne‘s $230M acquisition of rival Canadian giant Alliance Films completed earlier this month, the executive structure in the UK, where the companies overlapped, is coming into somewhat clearer focus. On the eve of the European Film Market in Berlin, eOne today said that Alliance SVP Worldwide Acquisitions and Productions, Robert Walak, is leaving the company to pursue other ventures. The well-liked London-based exec had been at Alliance since 2003 and oversaw the acquisitions of such important titles as The Twilight Saga series in Spain and The King’s Speech and The Woman In Black for the UK. Also leaving is Jon Bourdillon, who headed up home entertainment at eOne. He will be replaced by Ken McMahon of Alliance subsidiary Momentum. Read More »
Now that its takeover of rival Alliance Films is complete, eOne has announced exec appointments for the UK and Spanish arms of the company. Alex Hamilton has been named managing director in the UK … Read More »
UPDATE: Alliance co-founder and CEO Victor Loewy released the statement below following the eOne announcement this morning:
“Further to the acquisition of Alliance Films by eOne, the Alliance Films brand and legacy will come to an end. Whilst it’s been a privilege to be part of Alliance, having founded and been associated with the company for the past 40 years, I have decided not to be part of the new enterprise. Therefore, I will step down as Chairman and CEO of Alliance with immediate effect and will open a new chapter in my life.”
PREVIOUS: Entertainment One was granted regulatory clearance by the Canadian Competition authority last week to acquire Alliance Films and today says it has completed the roughly $230M transaction. As a result of the merger, Alliance CEO Victor Loewy and Alliance president Charles Layton have left “to pursue other interests.” The tie-up creates the largest independent film distributor in Canada and the UK and gives the new group reach across those territories along with Benelux, Australia, the U.S. and Spain. There will be some overlap for the companies, notably in the UK and Canada, and the group says it will “begin the integration process and will work quickly to bring the companies together under eOne.” Click over for the press release: Read More »
The merger of Canadian giants Entertainment One and Alliance Films is one step closer to fruition. EOne announced in September that it was seeking to acquire rival Alliance for approximately $230M. One of the … Read More »
The cast, writer Leigh Whannell and director James Wan are returning for Insidious Chapter 2, which FilmDistrict will release August 30, 2013. The first horror pic, released in April 2011, was one of the most profitable films of … Read More »
Entertainment One has reported a drop in adjusted pre-tax profits for the six months ended September 30 with earnings down to $14M from $29.9M in the same period last year. The producer-distributor said underlying EBITDA of $21.3M was down from last year’s $37.5M, primarily due to the timing of increased investment, which drove P&A costs up 30% in the first half. Revenues were up to $350.39M compared to $325.11M in 2011 and operating cash flow in the first half was up 59% to $96.59M. The Canada-based company confirmed in September that it would acquire rival Alliance Films for $230M in a long-brewing deal. Today, eOne says funding for the acquisition has been secured and that the transaction, which is subject to regulatory approval, is expected to close in early 2013. Also in September, the company announced a multi-year offshore output deal with DreamWorks. Read More »
A deal has been brewing for some time between the Canadian giants. In May, Deadline reported word was spreading about a hookup during the Cannes Film Festival, and eOne later confirmed it was in talks to buy rival Alliance. Today’s announcement comes just as the Toronto Film Festival is getting underway where both companies are handling a host of titles. The merger will create a group with reach across Canada, the UK, Benelux, Australia, the U.S. and Spain. EOne has The Twilight Saga: Breaking Dawn Part 2 coming up and purchasing Alliance will give it Canadian rights to 11,000 titles including The Hunger Games. A deal is subject to regulatory approval. Here’s the press release on the proposed acquisition:
TORONTO, ONTARIO – Today the Board of Entertainment One Ltd. (LSE:ETO) (“eOne” or “the Group”) announces that it has entered into an agreement to acquire Alliance Films, a leading independent distributor of filmed entertainment products in Canada, the United Kingdom and Spain, from affiliates of GS Capital Partners and Investissement Québec for approximately CAD$225 million.
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In May, Entertainment One confirmed it was mulling the acquisition of fellow Canadian-based group, Alliance Films. At the time, it said a deal was not a certainty, but that it had held talks with Alliance shareholders. In … Read More »
Entertainment One confirmed today that the distributor has held negotiations about purchasing Alliance Films, as Deadline reported last week from the Cannes Film Festival. Both companies had remained publicly mum about the negotiations but eOne said today it … Read More »
With the pace of dealmaking slow so far at the Cannes Film Festival, the most intriguing word spreading on the Croisette is that Entertainment One is in discussions to acquire Alliance. We’ve even heard word that Alliance … Read More »
If you’re Canadian and you want to talk to Brad Pitt or Kristen Stewart at the Cannes Film Festival, be prepared to pay. Toronto’s Alliance Films has sent out a menu of prices to … Read More »
Multi-territory distributor Alliance Films has announced the acquisition of 16 titles to go out via Alliance Films in Canada, Aurum Producciones in Spain and Momentum Pictures in the UK and Ireland. Last week, I exclusively reported from the EFM on Momentum’s acquisition of François Ozon’s In The House and Regis Roisnard’s Populaire for the UK and Ireland. Included in that report were pick-ups of other buzz titles like Anton Corbijn’s A Most Wanted Man and Steven Soderbergh’s Bitter Pill in what Alliance SVP of acquisitions and production Robert Walak told me was a better than expected market. Among the additional films Alliance has now confirmed acquiring are Jean Dujardin’s infidelity comedy The Players and Catherine Hardwicke’s erotic thriller Plush with Evan Rachel Wood for the UK and Ireland and Dustin Hoffman’s directorial debut Quartet with Maggie Smith, Read More »
Goldman Sachs is seeking to offload its two-thirds stake in movie financing and distribution company Alliance Films, the Financial Times reported today. Canadian-based Alliance has a sizable library and is the north-of-the-border distributor for Lionsgate, CBS Films, Weinstein Company, … Read More »
BREAKING: Alliance Films Paying $38M For Maple Pictures; Most Of Maple Staff Expected To Be Let Go
Santa Monica, CA, Vancouver, BC, and Montreal, Quebec (June 23, 2011) – Lionsgate (NYSE: LGF), a leading global entertainment company, and Alliance Films, a leading Canadian distributor of motion pictures and television programming, announced that the Alliance group has agreed to purchase Lionsgate’s Canadian distributor Maple Pictures for approximately $38.5 million subject to a working capital adjustment. The announcement was made by Lionsgate President and Co-Chief Operating Officer Steve Beeks and Alliance President Charles Layton and remains subject to approval by Canadian regulatory authorities.
The Alliance group will acquire Maple and its film library and will assume responsibility for Maple’s exclusive five-year output deal with Lionsgate for Canadian distribution of Lionsgate’s motion picture and television product and Maple’s exclusive long-term arrangement for distribution of Lionsgate’s prestigious filmed entertainment library in Canada. Maple founders and Co-Presidents Laurie May and Brad Pelman will join the Alliance team.
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EXCLUSIVE: I hear the deal was signed on Friday. So any moment now there’ll be an announcement that Canada’s Alliance Films President Charles Layton has finalized the purchase of his competitor Maple Pictures, which is primarily owned by Lionsgate. “But when you have Charles Layton involved in a deal, anything can happen!” a source tells me about the Alliance chief who’s been in the final due diligence stage. The deal has caused quite a lot of consternation up north because it will change the landscape of film distribution there — and for the worse, not the better. Also a bloodbath is expected: predictions are for the entire Maple staff of 30 to 40 employees to be let go with the exception of the two co-CEOs Laurie May and Brad Pelman, both former Lionsgate execs. Moving forward, Lionsgate’s films will be distributed by Alliance in Canada. This is part of Lionsgate’s divestiture plan to sell off what it considers non-core assets and raise cash to pay down debt following a year of fending of that hostile takeover attempt by corporate raider/shareholder activist Carl Icahn who planned to give LG to his son Brett. Lionsgate stock right now is still stuck in neutral, and the Maple stake is considered peripheral. (Lionsgate still maintains a distribution operation in the UK.)
Multiple sources tell me that Alliance is paying $38M for Maple. What Canada’s No. 1 indie film distributor is buying is an output deal with Lionsgate for Canada and the rights to the library, which is quite impressive, for a limited number of years — reportedly between 4-7 years. Lionsgate owns the vast majority of the economic interest in Maple (not just 10% as has been reported). Read More »
Much of my Cannes coverage has focused on the ferocious bidding battles among American distributors for films like The Wettest County, The Iron Lady and Looper. Even though DVD is still in the toilet and nobody can quite say why … Read More »
Canada’s already cozy film market may soon become a little cozier. We hear that the country’s No. 1 independent film distributor, Alliance Films, is angling to acquire one of its largest competitors, Maple Pictures — and is deep into talks … Read More »