eOne completes MGC acquisition, Morayniss to exit

eOne TV president John Morayniss is stepping down as eOne fully acquires The Mark Gordon Company and names its founder to the company's C-suite.

Entertainment One has acquired the remaining 49% stake in The Mark Gordon Company and named Mark Gordon the new president and chief content officer of film, television and digital.

eOne CEO Darren Throop announced today that the company has agreed to purchase the remaining stake of the L.A.-based prodco for USD $209 million (CDN $258 million). eOne has had majority stake in The Mark Gordon Company since 2015.

In the newly created role, Gordon will lead eOne’s creative units. MGC is behind the recent film Molly’s Game and TV hits such as Grey’s Anatomy and Toronto-shot Designated Survivor. Entertainment One also announced that former head of eOne’s global film group, Steve Bertram, has been named president of film, television and digital. He will oversee all commercial and distribution operations.

With the new hires, John Morayniss, who has led eOne’s television business since its launch in 2008, has stepped down from his position, though he’ll remain with eOne through the transition. Morayniss’ 2015 contract renewal with eOne saw him sign on to stay with the company into 2018.

“I want to recognize John, whose focus, innovative deal-making and charismatic leadership of our television business over so many years has helped make us the global force we are today. John’s relationships across the industry resulted in exponential growth across eOne’s television business in Canada and around the globe, and he leaves us with incredible momentum,” Throop said in a statement.

As the company first announced in its annual report in May 2017, eOne has been consolidating its film and TV operations into a single studio structure, which has already led to the departure of EVP of theatrical distribution and marketing, Mark Slone.