On the heels of expanding its US presence, Toronto-based content creation company marblemedia has made a deal to acquire full control of Distribution360 by purchasing the 50% stake in the indie distributor that it does not already own from co-owner Seven24 Films.
Terms of the buyout deal were not disclosed but are part of an agreement in principle between the co-founders marblemedia and Seven24 Films.
“We look forward to expanding our product offering and fully integrating our distribution arm under the marblemedia umbrella,” said Mark Bishop, co-CEO of marblemedia in a statement Monday.
Renae Garcia, the new director of US acquisitions for marblemedia based in L.A., will acquire American product for Distribution 360, while international transactions will be done by the indie distributor’s senior sales executive Kirsten Hurd from Toronto.
Distribution360 is best known for properties like Puppy SOS, Splatalot and Olive the Ostrich.
Seven24 executives Tom Cox and Jordy Randall will remain as strategic advisors for D360 as it handles distribution for projects it co-develops with marblemedia,.
Marblemedia and Seven24 are eyeing joint new projects in the kids and primetime spaces, to be distributed by Distribution360.