It will see the Toronto-based investment company create hubs in Los Angeles, London, Toronto and New York with library of more than 6,000 hours in more than 150 countries. The deal sees Kew Media take 100% ownership of Content Media, which recently sold projects such as Sundance premiere Cries From Syria and distributed BBC police drama Line of Duty, along with five other companies: Toronto-based producers Architect Films, Bristow Global Media, Media Headquarters Film & Television, Our Media House and Frantic Films.
Content’s management team will stay in place with CEO John Schmidt becoming a member of Kew’s board. CFO Geoff Webb and Erick Kwak, head of legal and business affairs, continue in their current roles.
Kew is also taking control of five content-controlled companies: Alex Gibney’s Jigsaw Productions, Campfire Film & Television, Collins Avenue Productions, Finland’s Aito Media and Spirit Digital Media.
The deal is expected to close in March, after which Kew says it will have more than “250 properties or ideas in development, representing hundreds of hours of productible content expected to be delivered over the next 12 to 24 months.”
Steven Silver, co-founder of the Blue Ice Group and Alliance Atlantis former co-controlling shareholder Peter Sussman launched an initial IPO seven months ago on the Toronto Stock Exchange as a special purpose acquisition. Further acquisitions for niche media companies have already been targeted.
The company will pay vendors 68% of their equity in Kew shares and 32% in cash up front which it says represents “significant confidence in Kew’s strategy and potential for substantial value accretion, as well as strongly aligning them with company-wide performance.”
“We are content guys, it’s what we love, it’s what we do,” said Silver and Sussman in a statement. “There has never been a better time to be in the content business. We are incredibly excited by the companies we have brought together in Kew. It will be the perfect platform for growth and further acquisitions.”