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.
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.”