'Twilight' Distributor Unveils Higher Library Valuation Amid Possible Sale

Summit Entertainment

Entertainment One also predicted its six months' EBITDA will be well ahead of the prior year in its latest UK trading update.

TORONTO -- Just as it considers putting itself on the auction block, Entertainment One has had its film, TV and music library valued at just over $350 million, well up on last year’s appraisal.

The Toronto-based indie, releasing its latest UK trading update on Thursday, reported its $350 million library valuation to March 31, 2011 was up 40% from a year-earlier $250 million estimation.

Entertainment One, which releases the Twilight movie franchise in Canada and the UK, earlier this month said it may put itself up for sale while “considering its strategic options” after buyer interest emerged.

J.P.Morgan and Credit Suisse are on board to sift through possible bids or other options for the Canadian company.

Entertainment One, which trades on the London Stock Exchange, also unveiled guidance that indicates EBITIDA for the six months to September 30 will be “significantly ahead” of 2010 levels.

And the Canadian producer predicted its first half revenue will be “in line” with prior year levels.

Entertainment One will release its interim financial results on November 14.