Inception Media Group to Sell Controlling Interest in Company6 Mar, 2015 By: Erik Gruenwedel
Inception Media Group, distributor of motion pictures and other video entertainment, has signed a letter of intent to sell a controlling interest in the Los Angeles-based company, including its foreign sales subsidiary, Inception Film Partners, to Toronto-based Cameron Thomson Entertainment Ltd.
Cameron Thomson Entertainment specializes in developing, financing, producing and distributing international lifestyle, drama, documentary and animation programming.
The proposed deal will provide both companies greater access to capital and other resources that will enable them to evolve and expand all facets of their respective businesses, including content acquisition, production and development, worldwide licensing, sales and distribution.
Financial terms of the transaction were not disclosed. Pending satisfactory completion of due diligence the proposed acquisition is expected to close within 45 days.
IMG was co-founded in 2009 by David Borshell, a long-time executive with Image Entertainment. It features a catalog of more than 150 movies and 2,500 hours of digital content. IMG’s distribution infrastructure includes direct sales agreements with television networks, online retailers, streaming providers, video retailers and wholesale distributors. The company also distributes programming on behalf of third parties.
Borshell will continue to run IMG.