Blue Ant Media to acquire Thunderbird Entertainment in $63m deal 

Blue Ant Media is set to acquire fellow Canadian studio group Thunderbird Entertainment in a deal valued at around C$89m (US$63m).

Michael MacMillan

The deal is expected to close in the first quarter of 2026 and remains subject to several customary closing requirements, including the Competition Bureau of Canada, the Toronto Stock Exchange and Thunderbird Shareholder.

With the acquisition, Blue Ant takes control of Thunderbird’s animation studio Atomic Cartoons, its unscripted production business Great Pacific Media and its library, among other business units. Headquartered in Vancouver, with a team in LA, the company has its own global distribution and consumer products team.

Upon close of the deal, Thunderbird CEO Jennifer Twiner McCarron will join Blue Ant to oversee a combined kids, young adult and animation business, which will sit within Blue Ant Studios.

Blue Ant’s corporate management team, led by CEO Michael MacMillan, will remain unchanged.

For Blue Ant Media, the deal comes four months after it completed its reverse takeover of Boat Rocker, a transaction that saw it gain a public listing on the Toronto Stock Exchange. It has moved quickly on the acquisition front, and has already acquired MagellanTV in a deal worth around US$12m.

Blue Ant said that it expects to find around C$7m in cost synergies in the first 12 months after the deal, and will continue to look for saving opportunities beyond that. The company added that its balance sheet remains strong as Thunderbird carries no corporate debt.

“The acquisition of Thunderbird is anticipated to add scale and complementary capabilities that strengthen Blue Ant’s studio business and enhance our earnings and cash flow,” said MacMillan.

“Thunderbird’s world-class service work and proprietary content creation strengthens Blue Ant’s studio portfolio and fortifies our ability to develop, package, and monetise content across multiple platforms, while improving operating efficiency across our combined businesses. We are thrilled to carry on the momentum we started with the RTO this summer.”

Twiner McCarron added: “This Transaction brings Thunderbird into a larger, more diversified media group with stronger commissioning opportunities, global distribution, and greater emphasis on IP ownership and monetisation. It creates a powerful platform for future growth, while also delivering compelling value for shareholders.”