Completion contracts specialist FFI Holdings Plc (LON:FFI) has acquired Signature Entertainment, one of the UK’s largest film distributors.
Steven Ransohoff, FFI Holdings’ chief executive said Signature is especially well placed in the streaming arena, which is a new captive distribution channel for the group.
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Founded in 2011, Signature has released over 600 titles and acts as an aggregator for Netflix, Amazon Prime and Sky and other streaming services.
The consideration is US$5mln cash upfront followed by four annual payments based on underlying earnings.
FFI dominates the space in the UK for completion contracts, in effect an insurance policy to guarantee a film gets made, but has diversified recently into post-production services and distribution capabilities.
A documentary collaboration with IMAX and Warner Brothers, "Pandas", has also now been launched in the US.