Unscripted

Fairfax Financial takes stake in Temple Street

Toronto-based insurance and investment company Fairfax Financial Holdings has taken a majority stake in Canadian prodco Temple Street Productions. (Pictured: Say Yes to the Dress Canada)
July 28, 2015

Toronto-based insurance and investment company Fairfax Financial Holdings Limited has taken a majority stake in Canadian prodco Temple Street Productions.

The investment will allow the Say Yes To The Dress Canada producer to expand its operations into the U.S. and international markets through content creation, production and distribution with the option to explore strategic acquisitions.

Co-presidents David Fortier and Ivan Schneeberg, along with MD John Young, will continue to manage the strategic direction and day-to-day operations of the Toronto-and Santa Monica-based company.

Temple Street’s unscripted portfolio includes Canada’s Next Top Model (CTV), Cover Me Canada and Over the Rainbow (both for CBC), Cook’d (YTV), Style Her Famous (Style Network) and Million Dollar Critic (W Network).

The deal furthers Fairfax’s moves in the media industry, having previously acquired more than 16% of ZoomerMedia Ltd. and 23% of Canadian newspaper conglomerate Torstar Corp., according to The Globe and Mail.

TD Securities Inc. acted as financial adviser for Temple Street Productions.

“Fairfax is a long-term value investor in Canada and around the world,” said co-presidents Fortier and Schneeberg in a statement. “We are grateful for its belief in the leadership of our studio, and we look forward to a dynamic journey forward in our pursuit of building a world class content creation and rights management company.”

About The Author
Meagan Kashty is an associate editor of realscreen, an international print and online magazine that covers the non-fiction film and television industries. Meagan is an award-winning business journalist. Prior to joining the realscreen team, Meagan was online editor of Canadian Grocer, named Magazine of the Year at the 2015 Canadian Business Media Awards. She can be reached at mkashty@brunico.com, and you can follow her on Twitter @MegKashty

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