EOne Completes Alliance Films Acquisition; Victor Loewy, Charles Layton Exit

UPDATE: Alliance co-founder and CEO Victor Loewy released the statement below following the eOne announcement this morning:

“Further to the acquisition of Alliance Films by eOne, the Alliance Films brand and legacy will come to an end. Whilst it’s been a privilege to be part of Alliance, having founded and been associated with the company for the past 40 years, I have decided not to be part of the new enterprise. Therefore, I will step down as Chairman and CEO of Alliance with immediate effect and will open a new chapter in my life.”

PREVIOUS: Entertainment One was granted regulatory clearance by the Canadian Competition authority last week to acquire Alliance Films and today says it has completed the roughly $230M transaction. As a result of the merger, Alliance CEO Victor Loewy and Alliance president Charles Layton have left “to pursue other interests.” The tie-up creates the largest independent film distributor in Canada and the UK and gives the new group reach across those territories along with Benelux, Australia, the U.S. and Spain. There will be some overlap for the companies, notably in the UK and Canada, and the group says it will “begin the integration process and will work quickly to bring the companies together under eOne.” Click over for the press release: (more…)

This article was printed from https://deadline.com/2013/01/eone-completes-alliance-films-acquisition-victor-loewy-charles-layton-exit-399690/