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
Selina Chignall joins the realscreen team as a staff writer. Prior to working with rs, she covered lobbying activity at Hill Times Publishing. She also spent a year covering the Hill as a journalist with iPolitics. Her beat focused on youth, education, democratic reform, innovation and infrastructure. She holds a Master of Arts in Journalism from Western University and a Honours Bachelor of Arts from the University of Toronto.

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