A+E Networks has acquired a 35 per cent stake in Newen’s majority-owned content provider Reel One, which is based in Montreal with offices also in with offices in Los Angeles, London and Buenos Aire.
Newen remains a majority shareholder in Reel One with a 51 per cent stake.
A+E Networks has also signed a multi-year output deal to acquire 40 titles produced by Reel One every year. The company typically produces around 100 titles a year.
“Reel One is a leading global player in the highly attractive made-for-TV movie space,” commented David Bank, executive VP of corporate development and strategy at A+E Networks. “We’ve historically enjoyed a great commercial partnership with them and are highly confident that this transaction will allow us to create even greater value on a strategic basis.”