×
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

  • Noah CentineoNickelodeon Kids' Choice Awards, Show,

    Kids’ Choice Awards 2019: JoJo Siwa, Noah Centineo Take on Bullying

    This year’s Nickelodeon Kids’ Choice Awards was full of positivity and encouragement to be yourself. DJ Khaled, known for his upbeat mantras, hosted the 32nd annual awards ceremony alongside JoJo Siwa at USC’s Galen center. Siwa accepted the award for favorite social music star. Siwa said in her acceptance speech, “I get hated on every [...]

  • Us Scriptwriter and Film-maker Larry Cohen

    Larry Cohen, Cult Horror Writer-Director of 'It's Alive,' Dies at 77

    Larry Cohen, best known for his work as a B-movie producer and director in the ’70s and his later work in screenwriting, has died. He was 77. Cohen’s friend, actor and publicist Shade Rupe, confirmed the news, which was announced in a post to Cohen’s official Facebook page. Rupe said Cohen died in Los Angeles [...]

  • Captain Marvel

    Box Office: 'Captain Marvel' Shatters $900 Million Milestone

    Brie Larson’s “Captain Marvel” continues to do heroic business. In its latest box office milestone, the female-fronted superhero tentpole zoomed past $900 million in ticket sales worldwide. “Captain Marvel” brought in a mighty $87 million globally this weekend, including $52 million from international territories. It has now generated $589 million overseas for a global haul [...]

  • Us - Lupita Nyong’o - cr:

    Box Office: Jordan Peele's 'Us' Stuns With $70 Million Opening Weekend

    Talk about scary good. Universal’s “Us,” the second directorial effort from Jordan Peele, pulled off a stunning debut, generating $70 million from 3,741 North American locations. That haul is enough to land it the second-best opening weekend of the year behind Disney’s “Captain Marvel” ($153 million). The psychological thriller about a family confronted by a [...]

  • SHAZAM

    Film Review: 'Shazam!'

    In “Shazam!,” Zachary Levi brings off something so winning it’s irresistible. He plays a square-jawed, rippling-muscled man of might, with a cheesy Day-Glo lighting bolt affixed to his chest, who projects an insanely wholesome and old-fashioned idea of what a superhero can be. But he’s also playing a breathless teenage kid on the inside, and [...]

More From Our Brands

Access exclusive content