The Vancouver TV production company behind such series as Food Network’s Chopped Canada and History’s Yukon Gold has a new Canadian owner.
Toronto’s Entertainment One (LSE:ETO) (eOne) announced July 17 it had acquired Paperny Entertainment from partners David Paperny, Audrey Mehler and Cal Shumiatcher. The deal is worth $29 million.
Paperny told Business In Vancouver he and his business partners have long-term contracts in place that will keep them at the company for the foreseeable future.
“They (eOne) want to keep us in tact, they want to let us do what we’ve been doing successfully for over 20 years, and that’s exciting, too,” he said.
“They have a huge distribution network. They sell shows around the world. They’ll help me sell our shows.”
Paperny Entertainment will function as an independent subsidiary of eOne and remain headquartered in Vancouver, providing the Ontario company with its sole presence on the West Coast.
Meanwhile, Paperny Entertainment’s creative team in Toronto is expected to move into eOne’s new head offices sometime within the next year.
As ad revenue moves from TV to online, Paperny noted eOne has the resources and industry contacts to help the new subsidiary get involved with more digital platforms.
EOne announced in May it had taken an equity stake in the Canadian interactive agency Secret Location.
Paperny, who was nominated for an Academy award in 1994 for the documentary The Broadcast Tapes of Dr. Peter, said his division is already teaming up with Secret Location on multi-platform productions.
Furthermore, eOne said in a statement the deal would allow the company to “ramp up its activity” when it comes to producing unscripted TV shows.
Paperny Entertainment is expected to produce 80 hours of original programming this year. Other productions include Timber Kings on HGTV, Travel Channel’s Chow Masters and Slice’s Chop Shop.