MONTREAL, June 20 /CNW Telbec/ - FRV MEDIA Inc. ('FRV') (TSX Venture:
FRV), and Imavision Distribution Inc. ('Imavision'), announced today an
agreement with 4303385 Canada inc. (a company controlled by Imavision
President and General Manager Pierre Paquet) and 2947609 Canada inc. (owned by
the family of the late Gabor Kertesz, cofounder of Imavision) for the
acquisition of Imavision by FRV for a consideration up to $26 million. This
major acquisition will position FRV as a Canadian industry leader in media
content integration. FRV will significantly increase its revenues while the
majority of its activities will shift from production to distribution.
Imavision will bring significant added-value to the entity with its DVD
and TV-DVD distribution channels that include direct marketing and web
distribution in the North American and French-speaking European marketplaces.
It has a catalog of more than 300 North American and European television
series and other DVD programs such as Little House on the Prairie, A Species
Odyssey and Insectia, as well as some of Canada's leading best-selling series
such as Les Belles Histoires des Pays-d'en-Haut, La petite vie, Le Temps d'une
paix, Les Filles de Caleb and Les Contes pour tous, all coming from leading
content providers including NBC, Granada, CBC/SRC, Pixcom, TF1, Fremantle and
the BBC. Imavision also brings to the entity its strategic distribution
partnerships such as Lionsgate Entertainment, its distribution network to all
major retailers including Wal-Mart, Zellers, Best Buy, Future Shop and Costco,
and its experienced management team with strong expertise in packaging,
marketing and distribution.
Synergies with FRV's wholly-owned distribution and production
subsidiaries, Delphis Films and Cité-Amérique, will in turn enhance the reach
of Imavision's network. It will have access to FRV's own production, Delphis'
network and international content acquisition expertise, its rights portfolio,
and the opportunity to leverage FRV's recently acquired world-acclaimed family
films collection and other films with high commercial value.
"This timely acquisition will transform the size and scope of FRV and
create a leading, coherent consolidator of content sources and distribution
channels, both in terms of platforms and geography, able to seize new market
opportunities. Our new business model will also allow us to improve and
balance our financial position as we acquire an increased and more regular
stream of revenues, independent of government contributions," said FRV
President and CEO Richard Laferrière. "I admire the accomplishments and
reputation of Pierre Paquet, Imavision's President, his team and business
partners, and I am particularly pleased to welcome him and his team aboard. I
look forward to working closely with them to ensure an effective continuation
and integration of all of our activities."
"After 15 years of building a great company we are very proud of, with
cofounder, the late Gabor Kertesz and loyal employees, this was the right time
to find a strategic partner. We already know well and trust the FRV team
through our business relationship developed over the last five years. FRV's
business and culture complement our own, with its strong expertise and
international experience in the acquisition of family films and documentaries.
We look forward to this exciting, winning combination", declared Pierre
Paquet, Imavision's President and General Manager, who will stay on in this
This arms length transaction is subject to the completion of financing
and due diligence, the conclusion of definitive agreements, as well as
regulatory approvals and other customary conditions. The transaction is
expected to close in the third quarter of calendar year 2007. No finder's fee
will be paid with respect to this acquisition.
A recognized North American entertainment leader, Imavision has built an
expansive catalogue of more than 300 titles of high quality, high-profile
entertainment and a formidable distribution network that encompasses retail,
online, mail order and all forms of direct marketing. Now in its 15th year of
operation, Imavision has gained the reputation as a 'go-to' home entertainment
and broadcast distributor for film and television producers worldwide seeking
to reach the North American and French-speaking European DVD and broadcast
markets in a creative, efficient and profitable way.
ABOUT FRV MEDIA
FRV Media Inc. is a producer, exporter and integrator of quality content
deployed across multiple platforms: television, cinema, multimedia and
publishing. Through its wholly owned subsidiaries Cité-Amérique and Delphis
Films, the Company creates and distributes dramatic content (TV series,
made-for-TV movies and feature films), youth and children's programs,
documentaries, sitcoms and magazine shows.
This press release contains forward looking statements reflecting the
objectives, estimates and expectations of FRV Media management. These
statements are identified by the use of verbs such as "believe," "anticipate,"
"estimate" and "expect" as well as the use of the future or conditional tense.
By their very nature, these types of statements involve risk and uncertainty.
Consequently, results could differ materially from the Company's projections
or expectations. For information on the nature of risk factors not
specifically discussed in this press release, the reader can consult FRV
Media's 2006 Annual Report under the heading "Risks and Uncertainties," page
Note: The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Richard Laferrière, President and CEO, FRV
Média inc, (514) 843-3355, ext. 225, firstname.lastname@example.org; Pierre Paquet,
President and CEO, Imavision Distribution inc., (514) 333-1410,