Digital production company Canvas Media Studios has a new backer joining Allen DeBevoise’s Third Wave Digital and MNM Creative: Toronto-based Entertainment One (eOne) says today that it has bought equity in the operation founded by Bernie Su and David Tochterman.
The companies didn’t disclose the size of the investment.
But Canvas says it will use the cash to distribute, produce and finance “premium scripted content for digital and traditional media, as well as emerging VOD and OTT platforms.”
eOne Television will have first dibs to help produce and distribute the fare worldwide “across all media.”
The arrangement “will enable us to pursue a range of distribution and co-financing opportunities, including identifying third-party content,” Tochterman says.
DeBevoise says that the addition of eOne “places Canvas Media Studios on a strong growth trajectory.”
Canvas is developing its first TV series, Socio, for MTV. It’s also developing a comedy project with Jennette McCurdy and a slate based on New Leaf Literary’s young-adult novels.