×
You will be redirected back to your article in seconds

LevelFILM Sells Majority Stake to Laurie Venning (EXCLUSIVE)

LevelFilm has sold a majority stake to investor and entrepreneur Laurie Venning, Variety has learned.

The investment was in cash, and as part of the deal to become its largest shareholder, Venning will take a seat on the indie distributor’s board. Toronto-based LevelFilm was founded by Dave Hudakoc and Michael Baker in 2013. Hudakoc will continue to oversee all of the company’s activities while Baker will continue to play a key role in acquisitions and expanding the company’s development activities.

LevelFilm boasts library of more than 200 films that includes “Edge of Winter” and “The Inevitable Defeat of Mister and Pete.” Its upcoming releases include Jordan Canning’s “Suck It Up,” Joyce Wong’s “Wexford Plaza” and Rob Grant’s “Fake Blood.”

“We are excited to have Laurie join LevelFilm and his investment gives us the opportunity to expedite the growth Michael and I set out to achieve just four short years ago,” said Hudakoc in a statement. “We will still remain lean and nimble, which have been keys to adapting in a perpetually shifting market, but we will now have additional working capital to put towards our films and projects we believe in.”

The company is also adding several board members such as Ben Charles Silverman, the founder and managing director of the talent agency Integral Artists, and Shane Stevenson, partner with Dentons Canada and a director of Venning’s Venntertainment Corp.

Venning has moved more heavily into the media business in recent years, but the source of his wealth comes from his role as the original founder of Regent Energy Group. There, he worked in the fabrication and manufacture of oil field drilling equipment and manufacturing equipment.

LevelFilm will remain privately held. Financial terms of the sale were not disclosed.

More Film

  • Bradley Cooper A Star Is Born

    The Message of the Oscar Nominations: You'd Better Have a Social Message

    Each year at the Left Coast crack of dawn, when the Oscar nominations are announced, there’s generally at least one major nomination many pundits were predicting that fails to materialize. When that happens, entertainment media tends to rise up as one and say the s-word: snub. In truth, it’s not usually a snub; it’s just [...]

  • Elton John and Mark Ronson

    Elton John to 'Shallow' Songwriter Mark Ronson: 'You're Going to Win the Oscar'

    Elton John is willing to bet that Mark Ronson will win the Oscar for Best Original Song for “Shallow” from “A Star Is Born.” The nominations were announced this morning. The legendary performer spoke to Ronson on the latest episode of his radio show “Elton John’s Rocket Hour” on Apple Music’s Beats 1.  “You’re having a [...]

  • Olivia Colman Colin Firth Helen Mirren

    Playing a British Monarch Is a Step on the Road to Oscar Glory - Again

    “Uneasy lies the head that wears a crown,” Shakespeare wrote of Britain’s care-burdened monarchs. Try telling that to the Academy. Once again, playing British royalty has proved to be a tried-and-true route to Oscar glory, with Olivia Colman as the latest actor to be nominated for an Academy Award for portraying an occupant of the British [...]

  • Black Panther Movie

    Oscars: 'Black Panther' Leads Best Picture Nominees to Near-Record Box Office Grosses

    This year’s Academy Award nominees proved the Oscars don’t need a popular film category to recognize movies with huge box office grosses. The 2019 crop of best picture hopefuls have generated an impressive $1.26 billion so far in North America alone. That bounty is led by “Black Panther,” which earned a sensational $700 million at [...]

  • oscar nominations 2019 stream online

    How to Watch This Year’s Oscar-Nominated Films

    The 2019 Oscar nominations have been announced, and if you want to catch up on the nominees, we’ve rounded up some easy ways to watch or stream the original films, documentaries, and songs competing for an award. Period comedy “The Favourite” and Alfonso Cuaron’s “Roma” lead the pack with 10 nominations apiece, while “Green Book” [...]

  • Pawel Pawlikowski "Cold War"

    Pawel Pawlikowski's 'Cold War' Makes History for Poland

    Alfonso Cuaron might’ve tied an Oscar record with four nods to his name for “Roma,” which scored 10 nominations overall. But another black-and-white film in a foreign language, Pawel Pawlikowski’s jazz-infused romantic drama “Cold War,” was honored with three Academy Award nominations Tuesday, the most in history for a primarily Polish-backed production. The film will [...]

More From Our Brands

Access exclusive content