Michael MacMillan Acquires GlassBOX Television Stake
Former co-producer of the "CSI" franchise to acquire controlling stake in Canadian cross-platform broadcaster GlassBOX Television.
TORONTO -- Former Alliance Atlantis Communications topper Michael MacMillan is returning to his former stomping grounds in Canadian broadcasting.
MacMillan, a one-time co-producer of the CSI franchise, has an agreement to acquire a controlling stake in cross-platform broadcaster GlassBOX Television.
Terms of the deal were not disclosed.
Before Alliance Atlantis was sold in 2007, MacMillan ran Canada's most profitable cable channels, from Food Network Canada and HGTV Canada to Showcase Television and History Television.
Returning to the industry, MacMillan’s Blue Ant Media, which he controls as CEO, has agreed to purchase an initial 29.9 percent stake in privately-run GlassBOX Television from existing shareholders.
In addition, an offer has been accepted for Blue Ant to acquire more shareholder equity to secure a 75 percent controlling stake in the broadcaster, pending regulatory approval.
MacMillan said he is jumping back into Canadian broadcaster atop an indie player well-placed in both new and traditional media, and ready to move to the next level.
“It [GlassBOX] is well-positioned. It’s well-established online, as well as in traditional media through cable channels. And the management team understands the new media scene very well,” he said.
Besides MacMillan becoming executive chairman of GlassBOX Television, the company’s boardroom now includes Peter Sussman, a former CEO of the Alliance Atlantis Entertainment Group, and Seaton McLean, a former controlling shareholder along with MacMillan of Alliance Atlantis Communications.
Other senior management changes include Raja Khanna becoming CEO, as Jeffrey Elliott fills the new position of president and chief strategy officer.
GlassBOX Television’s main digital and broadcast assets include Bite TV, AUX TV and the Travel & Escape Channel.
The deal to give MacMillan and Blue Ant Media a controlling stake in GlassBOX Television will see Jay Switzer, the current boardroom chair, step down.