Finally this ongoing saga has come to an end, with Deadline reporting that Entertainment One have finalised their acquisition of Canadian-based company, Alliance Films, for an astounding $230 million. The deal now makes eOne the biggest independent film distributor in Canada and the UK.
“This acquisition delivers on eOne’s long-term growth strategy to invest in content, maximize rights ownership and expand our international footprint,” said Darren Throop, President & CEO, Entertainment One. “We want to recognize Alliance’s leaders who have built a passionate team with a remarkable understanding of the international film business and their markets. We look forward to forging relationships with our new partners, representing the very best in independent film across the globe, and delivering opportunities for continued growth by eOne on a multi-territory multi-platform basis. This acquisition better positions eOne to generate significant value for shareholders.”
“eOne now offers more opportunities to work with quality films and talented film makers from around the globe. In addition to eOne’s existing output and strategic distribution relationships with Summit, Lakeshore, Lava Bear, Morgan Creek, among others; the transaction brings eOne output agreements with Lionsgate in Canada, Summit and Lionsgate in Spain and Relativity in Canada and the UK.”
This announcement will enable the independent film distribution giant to expand their reach across highly sought after sales territories including Benelux, Australia, the US and Spain. It is a huge development for the UK film industry in general, but there is also the likely risk that smaller independent film distribution companies will be left behind in the process.
As eOne raises their game, and the subsequent standard of output, it is inevitable that competitors will have to follow-suit.