Entertainment One gobbles up rest of Sierra Pictures

Entertainment One has completed the purchase of the remaining stake in feature film production and global sales company Sierra Pictures, it announced on Tuesday, which results in full ongoing ownership by the Group.

The FTSE 250 firm said Sierra Pictures, in which it first invested in 2015, enhanced its 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, would continue to represent films from third party producers, as well as leveraging its operations to sell eOne titles into territories where there was 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 to be admitted to the Official List and to trading on the London Stock Exchange,” eOne’s board said.

“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.”