Variety exclusively revealed that negotiations were reaching boiling point on Jan. 29.
Magical Elves’ active roster includes TNT’s “Cold Justice,” We TV’s “Braxton Family Values” and “Tamar and Vince,” Esquire Network’s “Best Bars in America” and Showtime’s “Time of Death.”
Tinopolis bought A Smith & Co, the Los Angeles-based shop behind the U.S. rendition of Gordon Ramsay’s “Kitchen Nightmares,” in 2011 for $100 million, as well as another U.S. indie, Base Productions. It also owns Pioneer Productions and Mentorn Media, which also produce for the U.S. market.
Tinopolis chairman Ron Jones said: “Tinopolis has a clear strategy to continue building an international media business with a strong and diversified revenue base, producing quality programs in its home territories for the world-wide market. This is another important acquisition for us, strengthening our commitment to U.S.-based production.
Magical Elves’ Dan Cutforth said: “We’re very proud of the company we’ve built over the last 11 years and today’s announcement marks the next stage of growth and development for us.”
Deal was brokered for Magical Elves by About Corporate Finance, the L.A.-based investment bank that has handled numerous production company sales in recent years.