Another Canadian prodco has moved out from under the tattered Kew Media Group (KMG) umbrella.
Robert Cohen, CEO of Media Headquarters — the Toronto-based production company behind the Smartest Person franchise airing on Canada’s CBC as Canada’s Smartest Person and in six other territories around the world — has entered into an agreement with the beleaguered Canadian superindie to repurchase the company in its entirety.
Media Headquarters was acquired by KMG in 2017. The company also produces Salvage Kings for History in Canada and Outdoor Channel’s The Brigade: Race to the Hudson.
Cohen will remain as CEO and the company’s executive team, production staff and slate are unaffected by the move. Financial terms of the deal were not disclosed.
“This deal represents the next stage for Media Headquarters and a new opportunity for further growth,” said Cohen in a statement. “I want to thank all of our partners and staff for their support and dedication as we move forward with a great production slate in 2020 and exciting plans for the future.”
The move follows news from earlier this week that another former KMG Canadian prodco, BGM (formerly Bristow Global Media) had been acquired by Quebec-based DATSIT Sphere, and that Nikki Ray Media Agency, a new production outfit founded by Architect Films’ Mike Sheerin and Tanya Linton, had also entered into an agreement with Kew Media Group’s receiver to buy back Architect Films’ shares.
In late February, Winnipeg-headquartered Frantic Films also exited the Kew Media Group roster, when CEO Jamie Brown repurchased 100% of the company.
Shortly afterward, Kew was placed in receivership and all of its directors resigned, including founder and chairman Peter Sussman and founder and CEO Steven Silver. FTI Consulting Canada, which has been appointed as receiver of all of Kew’s assets, undertaking and properties, is tasked with managing its affairs and selling its assets to pay its creditors.
Kew’s U.K.-based subsidiaries (listed as Kew Media International Limited, Kew Media Group UK Limited and Kew Media Group UK Holdings Limited) have been placed into administration in England and Wales.
(With files from Playback’s Lauren Malyk, Jordan Pinto)