Fairfax Financial Becomes Majority Owner of 'Orphan Black' Producer Temple Street Prods.
Temple Street will use the cash infusion to acquire not only content but also rival companies.
Temple Street Prods., the company behind the popular TV show Orphan Black, has sold a little more than a 51 percent stake in itself to Fairfax Financial, the investment entity of Prem Watsa, a billionaire sometimes called the "Canadian Warren Buffett."
While Watsa has a portfolio consisting of investments in about 140 different companies, insiders say this is his first foray into the entertainment industry.
Terms of the multimillion-dollar deal were not disclosed. Insiders say Temple Street will use the cash infusion to develop and acquire content, expand distribution and also to acquire TV companies, and announcements in that regard could come within weeks.
While Fairfax becomes the controlling stakeholder in Temple Street, the largest private TV production company in Canada will still be run by co-presidents David Fortier and Ivan Schneeberg along with managing director John Young.
Temple Street, based in Toronto and Los Angeles, has a first-look deal with BBC America. Besides Orphan Black on BBC America, some of its more popular programming includes Killjoys on SyFy, X Company and Being Erica on CBC, Wingin' It on the Family Channel and Canada's Next Top Model on CTV.