3 Jul 2018 07:00
Date: 3 July 2018 On behalf of: Entertainment One Ltd. ('the Company', 'eOne' or the 'Group')Embargoed until: 0700 hours
Entertainment One Ltd.
Investment in Sierra Pictures LLC
Entertainment One Ltd. is pleased to announce that further to its initial investment in 2015, the Group has completed the purchase of the remaining stake in leading feature film production and global sales company Sierra Pictures LLC, which results in full ongoing ownership by the Group.
Sierra Pictures enhances eOne's capabilities in producing and acquiring premium films and cultivating successful relationships with leading industry talent and creatives, further increasing direct involvement and ownership in content. Wholly-owned Sierra/Affinity, the international sales company, will continue to represent films from third party producers, as well as leveraging its operations to sell eOne titles into territories where there is no direct distribution infrastructure.
Following completion and in order to satisfy consideration for the acquisition, application has been made to the UK Listing Authority and the London Stock Exchange for 1,231,768 common shares in Entertainment One Ltd. to be admitted to the Official List and to trading on the London Stock Exchange. The shares shall rank pari passu with the existing common shares of the Company and it is expected that admission will take place on 4 July 2018.
Enquiries:
| ||
Alma PR | Rebecca Sanders-Hewett
| +44 (0)20 3865 9668 |
Entertainment One Ltd. | Patrick Yau
| +44 (0)20 3714 7931 |
Notes to Editors:
ABOUT ENTERTAINMENT ONE
Entertainment One Ltd. (LSE:ETO) is a global independent studio that specialises in the development, acquisition, production, financing, distribution and sales of entertainment content. The Company's diversified expertise spans across film, television and music production and sales, family programming, merchandising and licensing, and digital content. Through its global reach and expansive scale, powered by deep local market knowledge, the Company delivers the best content to the world.
Entertainment One's robust network includes newly-launched MAKEREADY with Brad Weston, content creation venture Amblin Partners with Steven Spielberg, DreamWorks Studios, Participant Media, and Reliance Entertainment; leading feature film production and global sales company Sierra Pictures; unscripted television production company Renegade 83; world-class music labels Dualtone Music Group and Last Gang; and award-winning digital agency Secret Location.
The Company's rights library is exploited across all media formats and includes more than 80,000 hours of film and television content and approximately 40,000 music tracks.
www.entertainmentone.com