LONDON — The board of Canadian pubcaster CBC has gotten the go-ahead to sell its international library of TV shows to London-based ContentFilm.
Completion of the deal remains subject to due diligence, but Content said it expects to finalize the acquisition shortly.
The company will handle sales of the CBC library through its TV arm Fireworks Intl.
CBC’s decision to sell off its international rights to Content has drawn fire in Canada from Canuck sales companies who say they weren’t given the chance to bid.
The fact that Content is a U.K. company has added fuel to the protests. However, Canada’s Peace Arch Entertainment is in talks to acquire Content.
Richard Stursberg, exec VP of CBC, said, “CBC has made the decision to exit the business of international sales. We know that we lack the scale, resources, investment capital and risk tolerance required to be competitive in a market dominated by large, specialized companies. Fireworks and its parent ContentFilm are among the best known and most respected organizations in the industry, with extensive international reach and sales capability.”