TORONTO — Atlantis Communications Inc. announced Tuesday that it has reached an agreement to acquire Canadian television programming sales and distribution company Ironstar Communications Inc.
Atlantis president Lewis Rose said the $2.5 million deal was completed for three reasons: to expand Atlantis’ distribution network in the U.S., to acquire Ironstar’s library of 300 hours of programming, and to bring Derek McGillivray, Ironstar’s founder and prez, on board to join Atlantis as veepee of sales (North America.)
“He’s a veteran in the industry and has an excellent reputation,” said Rose. “We’re delighted that he’s joining us.”
Ironstar is a distribution company selling Canadian product to more than 40 territories in the international marketplace and distributing Canadian and foreign programs in Canada.
Atlantis is an international producer and distributor of TV programming. Its most recent success in the U.S. market was “Borrowed Hearts: A Holiday Romance,” a Roma Downey-starring vidpic that aired on CBS Nov. 30 and became the week’s highest-rated show.
Atlantis has offices in L.A., Toronto, Sydney and Amsterdam.