eOne Acquires Full Control of Digital Studio Secret Location
The distributor made an earlier, smaller investment in the interactive producer in 2014.
As U.K. TV group ITV circles Entertainment One, the Canadian indie studio has acquired 100 percent control of interactive agency Secret Location.
The two companies initially partnered in 2014 when eOne took a smaller equity stake in Toronto-based Secret Location as it expanded into the U.S. Terms of the deal to take control of the digital content studio were not disclosed Wednesday.
Financial details are expected to be released on Thursday morning in the U.K., where eOne trades on the London Stock Exchange. "The completion of our acquisition further builds on our core capabilities and augments our ability to bring the best content to the world," eOne CEO Darren Throop said Wednesday in a statement.
Secret Location got its start doing digital extensions for Canadian TV series like Big Brother Canada and The Book of Negroes, and more recently has segued to U.S. shows like NBC's The Blacklist and Fox's The Sleepy Hollow.
The deal to buy the ownership stake in Secret Location that it did not already own comes as eOne is reportedly the subject of a possible bid by private equity giant KKR & Co., and the Canadian company rebuffed a separate £1.03 billion ($1.3 billion) takeover bid from U.K. TV giant ITV.