Smith negotiated the deal via The Smith Family Circle and Smith’s Family Office banners, while Forster acquired Telepool assets via investor group Elysian Fields.
Financial details of the deal were not disclosed on announcement. Smith and Forster said they plan to repurpose Telepool to become a development, financing and distribution partner for their own projects.
Telepool has been a film licensing group since the 60s and was set up by German regional broadcasters BR, SWR and MDR together with the Swiss Broadcaster Corporation.
Over the years it has focused on licensing US films and TV series for distribution in German-Speaking Europe.
As part of the deal, Smith will have the option to develop and distribute film and television projects through Telepool.
Ahead of the deal, Telepool boss Thomas Weymar has stepped down and been replaced by Andre Druskeit.
Smith said: “Marc and I took a close look at Telepool and discovered a company that has an incredible reputation and a lot of potential. We look forward to working together and with the Telepool team to create unique opportunities and content to strategically growing the business.”
Forster added: “As a German-born Swiss national, I was familiar with Telepool long before completing this acquisition with Will and his family.
“We believe that Telepool is well positioned for continued success and growth in our rapidly changing media landscape. I believe Will and I will be able to contribute our combined energies and global relationships to the company’s advantage. It’s an exciting undertaking.”