Salter Street Films’ first acquisition since going public was a small one with the purchase of fellow Halifax production company Charles Bishop Productions.

But Salter president and coo Catherine Tait says the 100% purchase of Bishop’s eponymous company, which will add the doc series Foodessence to Salter’s library and see Bishop become vp production at Salter, is likely the first in a series of upcoming acquisitions, coventures and/or deals.

‘We are definitely talking to and pursuing conversations with a number of companies, not just production companies but related entertainment business companies across the country,’ reports Tait. ‘So I would expect that if any of those conversations should prove fruitful, that there would be more news within the next month.’

Tait confirms that Toronto’s Insight Productions is among the companies being courted, but says discussions are extremely informal at this stage and they are far from striking a deal.

‘Specifically, we’re looking for producers or production companies that have experience in developing proprietary production who focus on creativity and quality as the underpinnings of their business,’ says Tait.

Although a large majority of Salter’s product is for the cbc, Tait is less interested in production companies with solid relationships with private Canadian broadcasters than those with u.s. ties.

‘We look at producers who produce the best quality work, not because of their relationships with broadcasters. We’re not looking for a producer who has a deal with Baton or Global,’ says Tait.

‘In the u.s., it’s a little different because of the environment there and the nature of the industry. We are looking at small producers that might have an output deal with a cable company like hbo. That would be something we’re interested in.’

Another area of the business Salter is actively pursuing is third-party distribution.

‘Some producers aren’t ready or aren’t interested in being acquired,’ says Tait. ‘So our point of entry is to say, `We’re interested in distributing your product,’ and if the relationship works and goes to the next step, great.’

The only program assets acquired by Salter as part of the Bishop deal are 26 existing half-hour episodes of the documentary series Foodessence, which runs on Life Network, as well as 26 additional episodes scheduled for delivery in fiscal 1998 and 1999. Salter already distributes the Gemini Award-winning Nan’s Taxi from Bishop and Torrential Pictures.

Bishop is also in development on Bowlarama, a half-hour drama for ctv.

With the Bishop acquisition, Salter says its library of proprietary programming has now increased to 395 half-hours.

The price of the transaction was not disclosed, although Tait did reveal that it was an all-cash deal.

Consolidated revenues for cbp were $1.9 million for the year ending Jan. 31, 1998.

The July 6 announcement of the cbp deal had little immediate effect on Salter’s stock price, which has been slowly declining since it opened at $7.20 on May 20. The stock closed at $6.10, down $0.20 on July 6, but appeared to be rebounding at press time, closing at $6.50. Salter’s stock had traded as high as $9.25 off market before it hit the tse.

cbp will remain a separate but wholly owned subsidiary of Salter Street Films, and Foodessence will continue to be produced in Halifax as part of the Salter production slate.