Toronto 2011: Angel Entertainment Takes Stake in Canadian Rival Union Pictures

The Canuck film producers will partner on acquisitions and distribution of homegrown pictures in the domestic market.

TORONTO -- Canadian indie film producer Union Pictures has sold a minority stake to rival Angel Entertainment.

Saskatoon-based Angel will partner with Toronto-based Union Pictures on producing and distributing homegrown movies.

Terms of the deal were not disclosed, but the equity deal is part of a step-deal as Union and Angel acquire properties for development.

“We are looking forward to working with a team from the West, and we are impressed with Angel’s strong management and vision," Union Pictures' Cam Haynes said of working with Angel co-presidents Bob Crowe and Wally Start.

Indie producer Angel Entertainment earlier optioned the film rights to the Thomas Trofimuk novel Waiting for Columbus.

Movie credits at Union Pictures include the documentary Genius Within: The Inner Life of Glenn Gould.