Vancouver: With the acquisition of new companies and equipment, Yaletown Entertainment is claiming a couple of firsts and is getting a jumpstart on the high-definition revolution.

Earlier this month, the Vancouver-based information series producer bought two Sony high-definition cameras worth $550,000 from Vancouver-based Matrix Professional Video Services. In doing so, says president Mike Collier, Yaletown becomes the first production company in Canada to own its own hd gear. Also, Yaletown’s third season of Weird Homes and the first season of Weird Wheels – in all 39 episodes for hgtv – will be shot on hd.

‘hd is the future of television and we’re moving into it a year before most others,’ says Collier. ‘You could be in danger of falling behind the marketplace if you aren’t producing in the hd format. [Through this equipment,] we’ll be positioned as a major producer in Canada.’

He adds that, as hd becomes the broadcast standard, hd-based programs will offer more flexibility and opportunity when it comes to international sales.

Weird Homes is currently aired in six countries.

Meanwhile, the company has agreed to acquire 100% of Vancouver-based Post-Digital Group – which includes nonlinear editing company Post-Digital Works and video support company Pilot-West Productions – for two million shares worth a total of $1 million.

Post-Digital principals Brian Hammond and Debbie Walker will operate the new Yaletown divisions for at least five years.

The acquisition, says Collier, creates a more vertical company and a more efficient way to complete Yaletown’s television series, work previously done by Northwest Imaging & fx. He adds that the Post-Digital division will provide another source of revenue.

‘We can grow these companies in their ability to service other clients,’ says Collier, who adds Yaletown expects to make announcements about other production, post-production and distribution acquisitions by late summer and raise $5 million over the near term.

To help fund the growth, Yaletown sold one million units of shares and warrants – also in June – to raise $250,000 immediately and up to $350,000 over the next two years.

Hammond says the merger was attractive because it opened Post-Digital to ‘capitalization for emerging technologies. It’s a good fit. We supplement each other’s abilities.’

Post-Digital has supplied a range of production including Discovery Channel’s Storm Warning, music specials by Vancouver producer Badry Moujais, the new Jim Henson Company series Fearful Mind and the Sony feature Saving Silverman.

On June 6, Yaletown’s shares were trading at $0.31 on the Canadian Venture Exchange. Its year high is $0.91 and its year low is $0.15. Ian Edwards

www.yaletownentertainment.com/