With the pace of dealmaking slow so far at the Cannes Film Festival, the most intriguing word spreading on the Croisette is that Entertainment One is in discussions to acquire Alliance. We’ve even heard word that Alliance and Entertainment One will not be making offers on the same films here on territories where there is overlap — namely in Canada and the UK. In January, Alliance’s owners, Goldman Sachs and Investissement Quebec, put the Toronto-based company up for sale. Under Canadian law, the buyer has to be Canadian or have a Canadian partner since foreign groups can’t have controlling ownership of local media companies. Entertainment One says it doesn’t comment on acquisition speculation, and Alliance isn’t talking either.
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