Alliance Films Takes Maple Pictures From Lionsgate
Leading indie movie distributor completes $38.5 million acquisition and will start releasing Lionsgate product in Canada.
TORONTO -- Canadian indie film distributor Alliance Films has completed the acquisition of Maple Pictures from Lionsgate Entertainment for $38.5 million.
Alliance Films chairman and CEO Victor Loewy confirmed that the deal to acquire the distributor of Lionsgate product in Canada had closed.
“If you look around, there’s very few indie companies operating in the U.S. and Lionsgate is the biggest one,” Loewy said of his latest catch as Alliance Films acquires the Maple Pictures library and the exclusive Candian rights for Lionsgate product in Canada.
The possible sale of Maple Pictures, which was launched in 2005 by co-presidents Laurie May and Brad Pelman, was first reported in April.
Lionsgate CEO Jon Feltheimer on a Wednesday morning analyst call reiterated the Maple Pictures sale was part of an ongoing strategy by the mini-major to sell off non-core assets.
Loewy added job losses at Maple Pictures should be kept to a minimum after the rival distributor joins the Alliance Films fold.
“There will be a surprisingly high number of people that we’re keeping,” he said.
- Prince Takes Over the 'Arsenio Hall Show,' Debuts New Funky Song
- A Train, a Trestle and 60 Seconds to Escape: How 'Midnight Rider' Victim Sarah Jones Lost Her Life
- 'Divergent' Star Shailene Woodley: The Next Jennifer Lawrence?
- 'Noah' Banned in Several Middle Eastern Countries
- Lindsay Lohan's OWN Series Gets First Official Trailer (Video)
- MOST SHARED
- MOST POPULAR
- This Guy's Acapella Version Of Mike Tyson's 'Punch Out' Will Make You Nostalgic (VIDEO)
- Conan O'Brien Gives Body-Slam Filled Review Of The WWE 2K14 Video Game
- George Lopez Returns With 'Saint George' And Talks Diversity On Television (VIDEO)
- Brittany Murphy & Dakota Fanning Were The Perfect Couple In 'Uptown Girls'
- Ian Somerhalder Sings Smokey Robinson Classic in 'Esquire China' Behind the Scene Video - Watch Now!
- 'Glee'Actor Harry Shum Jr. is Engaged to Girlfriend Shelby Rabara!
- Nicole Richie Proudly Rocks New Purple Hair at Lunch with Joel Madden!
- Zooey Deschanel's 'New Girl' & Mindy Kaling's 'Mindy Project' Get Early Renewals From Fox!