eOne eyes acquisitions following financial results

International producer and distributor Entertainment One (eOne) is eyeing acquisitions as it looks to grow its TV and film divisions. This comes after the company announced an increase in profits of over 100%.

eOne confirmed that it had held acquisition talks with Canadian TV and film distributor Alliance Films but has not closed any deal.

Darren Throop, president and CEO, Entertainment One, said: “The Board determined that it would continue to evaluate acquisition opportunities to supplement the organic development of the Group, which could generate superior shareholder value and enhance the Group’s strategic position.”

The company, which produces series including AMC’s Hell on Wheels and NBC’s The Firm and distributes zombie drama The Walking Dead, announced a 103% increase in annual profit before tax. Its TV business saw a 43% increase in revenues to £97 million (US$152 million) thanks to series including Call Me Fitz, Saving Hope and TV movies Goodnight for Justice and Whiskey Business. Digital revenue also doubled to £66 million as a result of its deal with Lovefilm in the UK.