Entertainment One Invests in Sierra Pictures
The strategic investment in Sierra, led by Nick Meyer, aims to grow the indie studio's international movie sales and distribution reach.
Entertainment One has made a strategic investment in Sierra Pictures, with the collaboration aiming to deliver more feature films into the global market.
Terms of the deal, including the size of the investment stake, were not disclosed by Toronto-based eOne, but Sierra, led by Nick Meyer and Marc Schaberg, will continue to operate autonomously.
Sierra also will receive financing from eOne to expand its film production slate as the Canadian studio looks to source more prestige movies for international distribution. Sierra's current slate includes spy thriller The Coldest City, starring Charlize Theron.
"We are very pleased to expand our relationship with Sierra Pictures," Steve Bertram, president of eOne's global film group, said Thursday in a statement. "Nick and Marc have an impressive track record across film production, sales and distribution, making them industry standouts, and we have long admired the strength of their business."
The deal also will see Sierra/Affinity, a joint international sales venture between Sierra Pictures, Oddlot Entertainment and Bold Films, continue to exclusively represent films from Sidney Kimmel Entertainment, Blumhouse International, Oddlot and Bold Films, as well as third-party producers.
eOne buying a stake in Sierra follows the indie studio launching a separate venture with The Mark Gordon Company and Amblin Partners with Steven Spielberg, Participant Media and Reliance Entertainment.
As part of the latest agreement with Sierra, the international sales and distribution of films produced and acquired by eOne Features, as well as eOne-distributed movies from The Mark Gordon Company, will be handled by Sierra outside of Canada, the U.K., Australia/New Zealand, Benelux and Spain, where eOne directly distributes pics.
eOne was represented in the Sierra investment deal by Matt Thompson of Sidley Austin LLP, with Chris Brearton, Robert Haymer and Ken Deutsch of Latham & Watkins representing Meyer, Schaberg and Sierra.