Shareholders in the Movie Distribution Income Fund on Friday voted overwhelmingly in favor of selling their 49% stake in Motion Picture Distribution to a private equity affiliate of Goldman Sachs and Canadian partner EdgeStone Capital Partners.

In a special shareholders meeting in Toronto, lasting only 11 minutes, unitholders voted 99.92% in favor of cashing out their stakes to Goldman Sachs for $10 per unit, which places an estimated $193-million value on the income fund.

Goldman Sachs has already acquired the remaining 51% stake in MPD, Canada’s largest indie distributor, from Alliance Atlantis Communications as part of a larger $2.3 billion takeover deal of the broadcaster.

Only one unitholder raised objections to the income fund sale on Friday. John Collins questioned whether, with box office hits like Hairspray now in release, it made better sense to maintain MDIF as a going concern.

‘It’s been tough times. But we have some movies coming along that may make it a better enterprise,’ Collins told the meeting.

Responding, Rubin Osten, chair of a special committee at MDIF, said he couldn’t comment on ‘what’s around the corner’ in Hollywood releases.

But Osten did thank shareholders for supporting the income fund’s management through recent negotiations with Goldman Sachs, and wished the future management at MPD well.

EdgeStone Capital Partners, which will run MPD on behalf of Goldman Sachs, has yet to reveal the distributors’ new management. But it’s expected Victor Loewy, a former MPD chairman and now consultant, will return to the executive suite to run the distributor.

The MDIF will be delisted from the Toronto Stock Exchange, and its stake handed over to Goldman Sachs once its deal for Alliance Atlantis, in partnership with CanWest Global Communications, is completed as planned on Aug. 15.