Entertainment One Ltd (LON:ETO) today announced that further to its initial investment in 2015, the Group has completed the purchase of the remaining stake in leading feature film production and global sales company Sierra Pictures LLC, which results in full ongoing ownership by the Group.
Sierra Pictures enhances eOne’s capabilities in producing and acquiring premium films and cultivating successful relationships with leading industry talent and creatives, further increasing direct involvement and ownership in content. Wholly-owned Sierra/Affinity, the international sales company, will continue to represent films from third party producers, as well as leveraging its operations to sell eOne titles into territories where there is no direct distribution infrastructure.
Following completion and in order to satisfy consideration for the acquisition, application has been made to the UK Listing Authority and the London Stock Exchange for 1,231,768 common shares in Entertainment One Ltd. to be admitted to the Official List and to trading on the London Stock Exchange. The shares shall rank pari passu with the existing common shares of the Company and it is expected that admission will take place on 4 July 2018.
