Please wait...
Please wait...

Newen acquires Canada’s Reel One

TF1-backed French production giant Newen has acquired a majority stake in Canadian producer and distributor Reel One Entertainment.

Bibiane Godfroid

Reel One has its headquarters in Montreal, with other offices in LA, London, Toronto and Vancouver. Its Canadian production activity will be housed in a Canadian-controlled subsidiary following the sale to Newen, with Reel One retaining a minority stake.

Tom Berry, who will continue to hold a minority stake in the group, will remain CEO of Reel One, which is known for its TV movies, with 75 due for delivery this year. The company generates 90% of its income outside Canada.

Newen CEO Bibiane Godfroid said: “This is a very dynamic period. The acquisition of Reel One brings new opportunities for us. Numerous synergies are possible with the group’s companies and we look forward to developing them with Tom Berry and his teams.”

The acquisition continues a global expansion effort that began after Newen sold a majority stake to French commercial broadcaster TF1 in 2015.

It took stakes in Danish producer Nimbus Film (The Bridge) and Netherlands-based Pupkin in September last year to go with its stake in Dutch firm Tuvalu bought the year before.

In 2017, Newen launched a London office, while in February it bought a majority stake in De Mensen, the Belgian prodco behind Netflix drama Undercover.

The deal, financial terms of which have not been disclosed, is subject to approval by the Department of Canadian Heritage, pursuant to the Investment Canada Act.

SECTIONS:



Please wait...