Sphere Media To Buy ‘Leaving Neverland’ Seller Abacus Media Rights For $18.6M
deadline.comCanada’s Sphere Media has acquired Abacus Media Rights, the UK-based distributor that sells Leaving Neverland and Scrublands.
Sphere is partnering with Canadian broadcaster Bell Media on the deal with current owner Amcomri Entertainment. Bell owns a sizeable stake in Sort Of producer Sphere following an investment last year.
The Abacus deal will costs a total of C$24.6M ($18.6M), comprising C$18.3M in cash and the rest in the assumption of loans. The deal, which became binding today, is subject to approval and expected to close in mid-August.
Once it closes, Abacus operate under the name Sphere Abacus Media Rights. Abacus’ sales and acquisitions team will remain based in the UK and continue to report to founder and Managing Director Jonathan Ford, who will in turn join the Sphere Media executive team and report to Sphere Media CEO Bruno Dubé.
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