Blue Ant Media and Thunderbird Entertainment announced Wednesday the successful completion of Blue Ant’s previously announced $89-million acquisition of Thunderbird.
Effective upon closing of the transaction, David Lazzarato was appointed to the board of directors of Blue Ant, and Jennifer Twiner McCarron was appointed as president of animation, kids and young adult at Blue Ant Studios.
The close comes one day after Blue Ant Media had announced it received the required approval from both the Competition Bureau and the B.C. Supreme Court. Blue Ant said it expected to complete the acquisition this month.
Blue Ant said in a previous press release that the Supreme Court of British Columbia recently issued a final order in connection with the previously announced plan of arrangement under B.C.’s Business Corporations Act whereby Blue Ant will acquire all of the outstanding shares of Thunderbird. This final order was the final approval required from the court prior to the closing of the arrangement, Blue Ant said.
In addition, the Competition Bureau had issued a no-action letter in connection with the transaction, thereby satisfying the “Competition Act Approval” condition in the arrangement agreement, according to Blue Ant.
