E1 finalizes Maximum purchase

Entertainment One on Thursday said it issued 1.15 million new class S shares to complete its 2008 acquisition of Maximum Film Distribution and Maximum Film International from Robert Lantos.

The Canadian-based media group said the share issue was made in ‘full and final settlement of the deferred consideration’ to acquire Lantos’ Canadian film releasing and distribution arms as part of an earlier buying spree that included Blueprint Entertainment, Barna-Alper Productions and Oasis International.

E1 subsequently merged the Maximum film businesses with Seville Pictures as part of a Canadian-based filmed entertainment division to complement film distribution units in the U.K. and Benelux.

Former Maximum employees Bryan Gliserman and Charlotte Mickie remained on board as senior executives of E1, while Lantos joined the company’s board as a non-executive director.

The Canadian distributor also releases all of Lantos’ Serendipity Point Films titles in Canada. E1’s class S shares are not traded alongside its common stock on Britain’s AIM exchange.

The stock value of E1 has run up lately after the release of the popular Twilight Saga: New Moon vampire pic from Summit Entertainment, to stand currently at 51.5 pence (84 cents).