TORONTO, Cananda - Entertainment One Ltd. (LSE:ETO) says its board has given final approval to a $225 million takeover of Alliance Films.
The purchase of Alliance from Goldman Sachs Capital Partners and Investissement Quebec has been approved by the Canadian Competition Bureau last week.
Entertainment One (eOne) says leadership for the combined company will report to Darren Throop while Patrice Theroux will continue to lead the film business.
However, former Alliance CEO Victor Loewy and former Alliance president Charles Layton have left the company to pursue other interests.
eOne specializes in the production and distribution of film and television content in Canada, the United States and several other countries.
Alliance Films is one of the world’s top five independent filmed entertainment companies and is a leading film distributor, co-financier and producer
Among its recent films is ''Looper'' — a sci-fi action film about time travel.
eOne says the acquisition of Alliance Films expands its filmed entertainment library to over 35,000 titles.