eOne acquires remaining stake in Sierra Pictures

The Toronto company has also appointed Sierra principals Nick Meyer and Marc Schaberg to oversee its film operations globally.

eOne has acquired the remaining stake in Hollywood-based production, sales and finance company Sierra Pictures.

As part of the deal, Sierra principals Nick Meyer and Marc Schaberg will lead eOne’s film operations globally. Meyer will serve as president, film, while Schaberg takes on the role of EVP, film and global operations. Financial terms of the transaction were not disclosed.

Sierra will continue to operate independently, according to a statement from eOne, with Meyer remaining as CEO of Sierra/Affinity, while Schaberg will continue as COO. As well, Jonathan Kier takes on an expanded role as president, international sales, Sierra/Affinity. The international sales company will continue to represent films from third-party producers, and will use its existing Sierra/Affinity operations to sell eOne titles in territories where eOne did not previously have distribution infrastructure.

In addition to bolstering its film distribution capabilities, the move marks eOne’s latest effort to strengthen its relationships with creatives. “Welcoming Sierra to eOne is an important next step in our strategy to increase our direct involvement and ownership in content. Together, we will continue to build strong relationships with high-profile creative talent domestically and abroad,” said eOne CEO Darren Throop in a statement.

The completion of the acquisition comes two and a half years after eOne acquired a 51% stake in Sierra Pictures in December 2015.

Since partnering with eOne, Sierra’s production slate has included Atomic BlondeHow It Endswhich premieres on Netflix July 13; Haunt, currently in post-production; and POMS, starring Diane Keaton and Jacki Weaver, currently in pre-production.

Earlier this year, eOne bought the remaining 49% stake in The Mark Gordon Company for USD $209 million (CDN $258 million). With the transaction, eOne also named Mark Gordon as the new president and chief content officer of film, television and digital.

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