Canadian media distributor Entertainment One Ltd (eOne) has acquired the equity it did not already own in Secret Location Inc, a Toronto-based digital content creation studio. No financial terms were released. EOne, which first invested in May 2014, said Secret Location will continue to operate as a distinct brand and help it leverage and strategically launch projects and products. Canada Pension Plan Investment Board bought a minority stake in eOne for $290 million last year. It was reported this week that U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR) is considering a bid to acquire the company following eOne’s rejection of an offer from ITV plc.
Entertainment One Completes Investment in Leading Interactive Agency Secret Location
Independent Studio Increases Focus on New Format Content and Virtual Reality
London/Toronto/Los Angeles – August 17, 2016 – In its commitment to next-gen new format content creation, Entertainment One (“eOne”) is pleased to announce that it has completed its investment in leading digital studio Secret Location, whose proven innovation in digital content creation and ownership is a powerful complement to eOne’s expertise and talent relationships across entertainment content creation and distribution.
The deal underpins eOne’s global content ownership strategy for delivering the best content to the world across all platforms and channels. Since acquiring an equity stake in May 2014, Secret Location has continued in its success as a content studio for emerging platforms, raking up a series of awards including winning the first Emmy for a Virtual Reality project, and has been successfully incubating technology and IP for the entertainment industry.
“As the industry continues to evolve, we are pleased to bring new content formats and platform expertise more deeply into our business,” said Throop. “The completion of our acquisition further builds on our core capabilities and augments our ability to bring the best content to the world.”
Secret Location’s brand will continue to exist as a premium label of eOne to maximally leverage and strategically launch projects, products and properties, utilizing their strong brand equity in the innovation space.
About Entertainment One
Entertainment One Ltd. (LSE:ETO) is a global independent studio that specialises in the development, acquisition, production, financing, distribution and sales of entertainment content. The Company’s diversified expertise spans across film, television and music production and sales, family programming, merchandising and licensing, and digital content. Through its global reach and expansive scale, powered by deep local market knowledge, the Company delivers the best content to the world.
Entertainment One’s robust network includes film and television studio The Mark Gordon Company; content creation venture Amblin Partners with Steven Spielberg, DreamWorks Studios, Participant Media, and Reliance Entertainment; leading feature film production and global sales company Sierra Pictures; unscripted television production companies Renegade 83, Paperny Entertainment and Force Four Entertainment; world-class music labels Dualtone Music Group and Last Gang; and award-winning digital studio Secret Location.
The Company’s rights library is exploited across all media formats and includes more than 100,000 hours of film and television content and approximately 40,000 music tracks.
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Photo courtesy of Secret Location Inc