News Column

Entertainment One Acquires Phase 4 Films In US For CAD27 Million

June 1, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Entertainment One Ltd Monday said it is to acquire the Phase 4 Films group of companies, a Canada and US-based independent film and television distributor, for a total consideration of CAD27 million.

The entertainment group said it has agreed to acquire the group of film companies from Phase 4's shareholders, including President and Chief Executive Officer Berne Meyerowitz.

It said the Phase 4 acquisition will boost its scale and provide growth opportunities for the group's US film division.

Phase 4 specialises in the sales, marketing, licensing and distribution of feature films, television and special interest content across all media in the North American market.

In the year ended March 31, Phase 4 generated revenue of CAD51.7 million, with earnings before taxes of CAD4.1 million.

Entertainment One said the Phase 4 acquisition is for a total of CAD27 million, to be paid by the issue of 1.4 million Entertainment One shares and CAD19.3 million in cash.

The group said Meyerowitz will be appointed president of its film businesses in the US.

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Source: Alliance News

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