Gordon in, Morayniss out at eOne

Entertainment One (eOne) is poised to pay US$209m to take full control of The Mark Gordon Company, with the production firm’s founder set to take on an in-house role and John Morayniss set to exit eOne.

Mark Gordon

Mark Gordon will join eOne as president and chief content officer for film, TV and digital and is tasked with driving both film and TV content strategy and enhancing eOne’s ability to attract creative talent and partners.

The Canada-based company will acquire the remaining 49% stake of Deluxe Pictures, known as The Mark Gordon Company, following what eOne described as a “successful business performance.”

eOne bought the initial 51% equity stake in The Mark Gordon Company, which produces Grey’s Anatomy, Designated Survivor and Ray Donovan, in January 2015 for US$132.6m.

It will fund the deal for the remainder of the company with US$160m in cash and US$49m worth of eOne shares, with a US$75m share placing now planned.

UK-, US- and Canada-based eOne said the acquisition “will further strengthen” its position as it merges its film and TV divisions.

Gordon will join eOne in his new role on a five-year agreement, with John Morayniss, who has led eOne’s TV business since its inception in 2008, stepping down.

John Morayniss

Meanwhile, Steve Bertram has been appointed president of film, TV and digital, overseeing all commercial and distribution operations for eOne. He was previously co-president of film, TV and digital at the firm, with a focus on movies.

eOne has made a slew of acquisitions during the tenure of Morayniss, whose next move is not yet known.

It has bought Canadian factual specialist prodco Paperny Entertainment and Peppa Pig producer Astley Baker Davies, with a line-up of original and acquired content now consisting of more than 40 series, including The Walking Dead, companion series Fear the Walking Dead and Designated Survivor.

The firm rejected a takeover bid by UK commercial broadcaster ITV in 2016, after eOne’s share price plummeted amid fears about debt refinancing and the profitability of its movie business.

Following that, eOne said it was merging its TV and film divisions in a bid to “underpin future growth,” following its strategy, unveiled in 2014, to double in size within five years.

“I want to recognise John, whose focus, innovative deal-making and charismatic leadership of our television business over so many years has helped make us the global force we are today,” said eOne CEO Darren Throop.

Darren Throop

“John’s relationships across the industry resulted in exponential growth across eOne’s television business in Canada and around the globe, and he leaves us with incredible momentum. I’m thankful for his continuing support through the transition.”

Throop described Gordon as “one of the industry’s most accomplished film and television producers, with a long track record of success and commitment to putting talent first.”

He added: “Today’s transaction signals that we are focused on investing heavily in the best creative talent.”

Gordon said: “Darren’s commitment to support our vision gives me confidence that we will achieve the quality and volume of premium content on a much broader scale both domestically and internationally.

“Ultimately, it is the creative partnerships with producers, writers, directors and actors that will bring us success. It is our mission to provide them the opportunity to tell great stories and to be financially rewarded for their work.”