John Morayniss-led Canadian outfit Blink49 Studios has acquired a majority stake in Vancouver-based production company Front Street Pictures.
The deal marks the first time Blink49, which itself is backed by US-based studio Fifth Season, has acquired a production company since its formation in late 2021.
Front Street Pictures, which produces episodic TV and made-for-TV movies, will retain its brand name and identity and continue to be led by president Charles Cooper. Financial terms were not disclosed.
Toronto-based Blink49 said the strategic deal would provide a “strong launch pad to immediately accelerate growth in Front Street Pictures’ established [TV movie] production business as well as increase its production slate and fund new investments in content and global distribution capacity.”
The transaction was negotiated by Nelson Kuo-Lee on behalf of Blink49 Studios and Cooper on behalf of Front Street Pictures. It remains subject to the execution of definitive documentation and certain conditions and approvals, said the companies.
Confirmation of the deal comes as Blink49 and Front Street collaborate on a pair of Canadian police procedurals, Wild Cards (CBC) and Sight Unseen (CTV), both of which are currently in production.
Front Street has been in business for more than two decades and has produced more than 300 movies and 150 episodes of television. The company has a strong production presence in Vancouver and recently launched operations in Alberta. Last year, it produced 26 movies.
Blink49 CEO Morayniss said: “We’re thrilled to embark on this partnership with Charles and his talented team. Working closely with Charles this past year, I’ve been incredibly impressed with his leadership, production expertise and stellar reputation among industry peers.
“This investment aligns perfectly with our mission to grow our footprint in Canada, including expanding our infrastructure in Vancouver, establishing a presence in Alberta and plans for further growth in the Canadian market and beyond. Front Street Pictures will continue to be a best-in-class production services partner with third-party producers and broadcasters in Canada and around the world.”
Cooper added: “The partnership with Blink49 Studios will support Front Street Pictures on its continued growth trajectory and focus on the MOW [movie of the week] market. John’s vision along with the expertise of the team at Blink49 Studios will drive more investment in MOW content production and distribution as well as expansion into the scripted episodic space.”