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Entertainment One Invests in Sierra Pictures

In a pre-Berlin Film Festival move, Entertainment One has made a strategic equity investment in Sierra Pictures to help expand Sierra’s production slate.

The value of the investment was not disclosed. Sierra Pictures, led by Nick Meyer and Marc Schaberg, will continue to operate autonomously and tap into eOne’s global production and financing resources.

Sierra’s slate includes the current production of the Charlize Theron spy thriller “The Coldest City,” based on the Antony Johnston graphic novel of the same name. James McAvoy, John Goodman and Sofia Boutella are also starring.

As part of the agreement, Sierra will handle international sales and distribution of films produced and acquired by eOne Features — as well as eOne-distributed films from the Mark Gordon Company — outside of Canada, the U.K., Australia/New Zealand, Benelux and Spain, where eOne directly distributes films.

Sierra/Affinity, the joint international sales venture between Sierra Pictures, OddLot Entertainment and Bold Films, will continue to operate and exclusively represent films from Sidney Kimmel Entertainment, Blumhouse International, OddLot Entertainment and Bold Films, as well as third party producers.

Entertainment One said the investment in Sierra builds on two recent moves — its venture with the Mark Gordon Co. and its participation in the recently announced Amblin Partners with Steven Spielberg, Participant Media and Reliance Entertainment. “The partnership with Sierra Pictures will see eOne further extend its ability to source high-quality films for distribution in major markets around the world,” the company said.

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“This partnership is an exciting development for Sierra Pictures as eOne has the resources and global footprint to provide further bedrock for the production and financing of our films,” said Meyer and Schaberg. “The deal also aligns us with one of the most active and forward-thinking companies operating in the global feature film industry.”

eOne was represented in the transaction by Matt Thompson of Sidley Austin, LLP. Chris Brearton, Robert Haymer and Ken Deutsch of Latham & Watkins represented Meyer, Schaberg and Sierra Pictures.

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