Canuck producer-distrib Peace Arch Entertainment announced Thursday that it has acquired the 59.99% of shares in Dufferin Gate Prods. that it did not previously own, for $5.4 million cash and $594,000 in common shares.
In July, Peace Arch snapped-up 40.01% of the shares of Toronto-based Dufferin Gate.
Dufferin Gate is one of Canada’s leading production-services companies and has worked on more than 150 TV movies, series and features for companies including Showtime Networks, Paramount, Viacom Prods. and Columbia-TriStar.
The deal came about, in part, because Peace Arch worked with Dufferin Gate on series “The Tudors” and the Peace Arch execs were impressed by the facilities and staff.
Peace Arch president John Flock said his company will now shoot most of its productions using Dufferin Gate. The Canuck company has produced six theatrical features and 27 direct-to-video titles since September 2005.
Flock also said Peace Arch is moving ahead with plans to acquire ContentFilm. The deal will close either at the end of March or the beginning of April, he added.