FURTHER STEP IN STATED STRATEGY TO BUILD GLOBAL FILMED ENTERTAINMENT
TORONTO, Aug. 20 /CNW/ - Entertainment One announces today that its
Quebec subsidiary Videoglobe 1 Inc. has entered into a definitive agreement
with Seville Entertainment Inc, parent company of Seville Pictures Inc., to
acquire all of the outstanding shares of the company, effective immediately.
The company will be part of the newly announced Entertainment One Filmed
Entertainment division headed by Patrice Theroux, President.
"David and John (Reckziegel and Hamilton) have built a solid distribution
business and their continued leadership will be instrumental in our future
plans," stated Théroux. "We are coming into the Toronto Film Festival with
strong financial backing and an eye to buying films with our U.K., Canadian
and U.S. companies. There is a tremendous organic growth opportunity now in
Canada. We will expand Seville's operations in Toronto, add a minimum of 24
films to Seville's release slate, and will seek to acquire other filmed
entertainment assets in Canada."
Founded in 1999 by Co-Presidents David Reckziegel and John Hamilton,
Seville Entertainment is an integrated distributor and international sales
agent for feature films and television programming. Seville's theatrical
release business currently handles 30 new releases per year in Canada and 5-10
per year internationally. Recent releases include "2 Days in Paris" starring
Julie Delpy and Adam Goldberg as well as 2007 Academy Award nominated films
"Volver," starring Penelope Cruz and "After the Wedding" directed by Susanne
Bier. Upcoming films include "Bluff," the opening film of the Festival des
Films du Monde in Montreal; "The Last Continent" ("Le Dernier Continent")
directed by Jean Lemire; "Contre Toute Esperance" ("Summit Circle") directed
by Bernard Emond; "Shake Hands with the Devil", based on the best selling
novel by General Romeo Dallaire, and directed by Roger Spottiswoode;
"Emotional Arithmetic" starring Susan Sarandon and Gabriel Byrne, and "Funny
Games" starring Naomi Watts from director Michael Haneke.
With Canadian distribution rights to more than 500 independent features
and worldwide rights to over 100 titles including "The Decline of the American
Empire," and the children's television series "Mighty Machines," Seville's
catalogue is one of the largest in Canada and is a significant addition to
Entertainment One's existing entertainment rights assets in Canada, the US and
"We have a tremendous respect for Patrice and are thrilled to be an
integral part of the business he is building," stated Reckziegel.
"Entertainment One's strategy to build a global distribution business is
perfectly in line with our own business plan With the weight of Entertainment
One behind us, Seville is positioned to become an increasing presence in
Canadian distribution, allowing us to exploit rights across Canada more
Hamilton added, "In addition, we look forward to growing our
international sales operation with increased acquisitions of world rights. We
remain committed to representing the best of Canadian film to markets around
Darren Throop, Entertainment One CEO, said: "The acquisition of Seville
represents an exciting step in the Entertainment One international acquisition
strategy, provides the business with a robust film distribution platform for
the Canadian market and adds further exciting content to Entertainment One's
growing library of entertainment rights. "
Following the acquisitions of Contender in the UK in July and of Seville,
Entertainment One's pro-forma revenue for the last financial year was
Théroux concluded, "This is a very strong base to continue our expansion.
There will be more territories to come."
Entertainment One Ltd. (LSE: ETO) Admitted to trading on AIM on 29 March
2007, Entertainment One Ltd's strategy is to build a leading international
independent entertainment content ownership and distribution business.
Entertainment One is the largest distributor of home entertainment products in
the Canadian market and following the acquisition of Contender also owns the
leading independent UK distributor of filmed entertainment on DVD. The company
also owns Koch Entertainment, the largest independent record label in North
America and a leading independent distributor of music and video in the United
For further information:
For further information: Trade Press: DDA PR: Lisa Lazure, Jill Jones,
Tel: +44 (0)20 7932 9800, Email: email@example.com, firstname.lastname@example.org;
Entertainment One: Darren Throop (CEO), Tel: (905) 282-7878, Email:
email@example.com; Seville Entertainment: David Reckziegel
(Co-President), firstname.lastname@example.org; Financial Press: Finsbury: Don
Hunter, Tel: +44 (0)20 7251 3801, Email: email@example.com; Giles
Willits (CFO), Tel: +442070042755, Email: firstname.lastname@example.org