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JasonParis

JasonParis

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Quebec invests $100M in Alliance Films
Move will secure Montreal's role as film centre
Last Updated: Wednesday, January 16, 2008 | 2:43 PM ET
CBC News

The Quebec government's investment arm confirmed Wednesday that it will buy a $100-million stake in Alliance Films Inc., Canada's largest independent film distributor.

The Société générale de financement (SGF) said it plans the move as a way of solidifying Montreal's role as a major film centre.

The SGF will take 51 per cent of the voting shares and a 38.5 per cent stake in Alliance Films.

The head office will move from Toronto to Montreal and senior management will be transferred to Montreal.

"We're delighted with the impact that this deal will have on Quebec's entire film and distribution industry," SGF president Pierre Shedleur said in a statement.

"In addition to greater visibility for Montreal, the partnership will generate substantial economic spinoffs. It will also contribute to the transfer of well-paid jobs that will enhance the city's economy," he added.

Alliance Films has motion picture distribution operations in the U.K. and Spain and holds the Canadian distribution rights for films by independent studios such as New Line Cinema, Miramax Films, Focus Features and The Weinstein Company.

SGF bought its stake from Toronto's Edgestone Capital Partners, which took shares in Alliance last year to help U.S.-based Goldman Sachs Group Inc. meet foreign ownership requirements when it bought 51 per cent of Alliance Films in a deal with CanWest.

SGF now owns Alliance Films' huge library of Canadian movies, including one of Canada's largest collections of French-language films.

The deal helps meet Canadian foreign ownership rules that movie distributors operating in Canada must have domestic management and owners.

The investment in Alliance Films is SGF's third major investment in the film industry in the past two years.

In 2007, it invested $140 million in a partnership with Lionsgate, that ensured that more than 15 feature films and television series would be produced in Quebec over the next four years.

The sixth season of The Dead Zone and the feature film Punisher: War Zone came to Montreal as a result of the Lionsgate deal.

In 2006, the government-mandated investment firm partnered with Hollywood production house Dark Castle on a $270-million production slate that involves six films being produced in Quebec.

Among the projects to shoot in Quebec were action film Whiteout, shot in 2007, and The Factory and Orphan, expected to be shot in Montreal this year.

SGF estimates its investments will generate 8,200 full-time equivalent direct and indirect jobs, representing spinoff benefits such as $325 million in wages.

Its deals also are helping to counteract the drop in foreign production in Canada caused by the strong dollar.

The SGF has a mandate to work with private-sector partners to carry out economic development projects, with an eye to making a profit on its investments.
 
Darkstar416 said:
The head office will move from Toronto to Montreal and senior management will be transferred to Montreal.

"We're delighted with the impact that this deal will have on Quebec's entire film and distribution industry," SGF president Pierre Shedleur said in a statement.

"In addition to greater visibility for Montreal, the partnership will generate substantial economic spinoffs. It will also contribute to the transfer of well-paid jobs that will enhance the city's economy," he added.

SGF bought its stake from Toronto's Edgestone Capital Partners, which took shares in Alliance last year to help U.S.-based Goldman Sachs Group Inc. meet foreign ownership requirements when it bought 51 per cent of Alliance Films in a deal with CanWest.
Click to expand...

So, Mister internet, what can you tell me about "Toronto's Edgestone Capital Partners", the good Toronto corporate citizen who was nice enough to ship all those jobs down the river (literally):

What's this? I believe it is the resume of one Samuel L. Duboc, Edgestone's President and Managing Partner.


founded Edgestone in 1999
1994-1999 CIBC Capital Partners
1991-1994 co-founder/developer of Air Miles
Sam serves on the Board of Directors of Alliance Films, Aurigen Capital Re Limited, Custom Direct Inc., New Food Classics, Porter Airlines(!!), Solace Systems Inc., Trimaster Manufacturing Inc and Bryker Technology Partners LP. He is a former director of BFI Canada, Richards Packaging and Hair Club Group. He holds a Bachelor of Science degree in Chemical Engineering from Tufts University magna cum laude and a M.B.A. from Harvard Business School. He was recognized in 2000 as one of Canada's Top 40 Under 40 and named one of the "Most Influential" alumni of the program in 2005; was nominated for the Ernst & Young Entrepreneur Of The Year® Award in 2006 and in 2007 and is a member of the Young President's Organization (YPO). Sam is Chairman of the Board of Pathways to Education Canada and its Foundation Cabinet, a member of the Board of Directors of the CAMH Foundation and a member of the Toronto City Summit Alliance Steering Committee (!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!@!@@!@!!@~1111).
​
 
Yikes.


I'm waiting for the Quebec government bailout of Quebecor World.
 
Most importantly, it's only 75 positions.

Still a longshot from when the big banks vacated Montreal.
 
isn't it funny how other companies located other than Quebec that want to buy Quebec companies and move jobs out of Quebec to other parts of the country get denied but Quebec companies are alloweed to o what ever they please?
 
For years, Loblaws was blocked in its attempt to buy a Quebec-based grocery chain on the basis of the belief that it would move jobs to Ontario.
 
The Toronto Stock Exchange had to guarantee that a certain number of board members had to be from Quebec in order to buy the Montreal Exchange.
 
Air Canada and CN Rail both are obligated to keep their head office in Quebec even though neither are crown corporations any longer.
 
Actually Air Canada isn't even allowed to leave Montreal. Imagine the amount of seats they must use up shuttling executive staff from there to the main bases in Toronto and Vancouver for meetings and such.
 
Now that I really think about it, there was also Roger's failed bid for Videotron a few years back that created all this fear of "English cultural domination" and was eventually scuttled somehow by the Quebec government of the day.
 
Another article about the sale...

Investment Moves Film Distributor to Quebec
Mediacaster Magazine
Thursday, January 17, 2008

By making a $100-million investment in Alliance Films, Inc., Société générale de financement du Québec (SGF) has acquired 51% of the voting shares and a 38.5% stake in Canada's largest independent film distributor.

The head office of Alliance Films will be relocated to Montréal as a result of the investment. Certain senior management and significant portions of the finance and home video personnel will be transferred to Montréal.

The investment in Alliance Films is SGF's third major investment in the film industry.

SGF is helping Montréal consolidate its role as one of Canada's major film centers and position itself advantageously within the North American and European industry, given the increasing importance of Alliance Films' European operations.

"We're delighted with the impact that this deal will have on Québec's entire film and distribution industry," Pierre Shedleur, President and General Manager of SGF, said in a release. "With its investments, SGF not only helps attract foreign productions to Québec, but also plays a central role in the global film industry. In addition to greater visibility for Montréal, the partnership will generate substantial economic spinoffs. It will also contribute to the transfer of well-paid jobs that will enhance the city's economy," Shedleur added.

SGF says it is confident that the deal will provide a high rate of return, since Alliance Films' distribution operations are highly profitable.

Alliance Films is a leading distributor of motion pictures in Canada, with motion picture distribution operations in the United Kingdom and Spain. The Company distributes filmed entertainment to theatres, on DVD, and to television broadcasters. Alliance Films holds the Canadian distribution rights to the productions of leading independent studios, including New Line Cinema, Miramax Films, Focus Features, The Weinstein Company.

In the past two years, Société générale de financement du Québec (SGF) has played a foremost role in the local film industry. In 2007, the film industry had its best year since 2003, in part as a result of SGF's investments.

In its efforts to attract international film production to Québec, SGF has invested in two major projects in the past two years. In 2007, it formed a partnership with Lionsgate, an independent U.S. producer, in a $400-million project. By investing $140 million in the project, SGF ensured that more than 15 feature films and television series would be produced in Québec over the next four years.

In 2006, SGF partnered with Dark Castle, a production company owned by Hollywood producer Joel Silver, a $270 million film project and involves the production of a slate of 15 feature films. By investing $18 million in the film slate, SGF ensured that six of the films would be produced in Québec.

In the spring of 2007, the action film Whiteout, starring Kate Beckinsale, was shot in Montréal under SGF's deal with Dark Castle. The next
two films in the slate, The Factory, starring John Cusack, and Orphan, starring Peter Sarsgaard, are expected to be produced in Montréal this year.

Under SGF's agreement with Lionsgate, the sixth season of the hit series The Dead Zone, starring Anthony Michael Hall, was shot in Montréal.

Société générale de financement du Québec (www.sgfqc.com), an industrial and financial holding company, has a mission to carry out economic development projects, with emphasis on the industrial sector, in co-operation with partners and on standard profitability conditions, in accordance with the economic development policy of the Québec government.
 
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