Distrib had network revenues of $19 million
Peace Arch Entertainment, a publicly quoted film and TV company based in Canada, has acquired L.A.-based DVD distributor Trinity Home Entertainment for $10 million, mostly in cash plus $500,000 in its common stock.
Trinity, which had unaudited net revenues of $19 million and net income of $2.5 million in 2006, distributes movies in the U.S., with Hearst and Genius Entertainment two of its key content suppliers.
“The acquisition of Trinity furthers Peace Arch’s strategy of building its inhouse distribution capabilities while continuing to aggregate highly marketable film and television content,” Peace Arch president John Flock said.
CEO Phillip Knowles, who founded Trinity, will remain with the company and head its U.S. DVD distribution operations, reporting to Peace Arch Home Entertainment president Berry Meyerowitz.
Peace Arch, which has offices in Toronto, Los Angeles and New York, is best known as the producer of recent Showtime miniseries “The Tudors.”