Independent content distributor Entertainment One (eOne) announced it has invested in digital-first media company Canvas Media Studios, the latter working with eOne Television for first-look productions and distribution of content on broadcast and other media platforms.
Terms of the deal were not disclosed. Other investors in Canvas Media include Third Wave Digital and MNM Creative.
“In addition to providing resources to fulfill our vision for developing and producing multi-platform premium scripted content, eOne’s strategic investment in Canvas Media Studios will enable us to pursue a range of distribution and co-financing opportunities, including identifying third party content,” said David Tochterman, who cofounded Canvas Media Studios with Emmy-winning producer and director Bernie Su. The deal also calls for eOne to help Canvas expand its content to emerging VOD and OTT platforms.
“I’m delighted to announce our partnership with Bernie, David and the Canvas Media Studios team,” said John Morayniss, CEO of eOne Television. “As we think about the future of storytelling, we are pleased to be in business with innovators that bring new models to the table and complement our business. Together, we are well-positioned to find opportunities in rapidly developing media and platforms.”
Entertainment One’s holdings and partnerships include film and TV studio The Mark Gordon Company, Steven Spielberg’s Amblin Partners, Participant Media and Reliance Entertainment. The company’s library includes more than 100,000 hours of film and TV content.