MONTREAL — Quebecor’s TVA Group has an agreement to buy the assets of Quebec-based sound-stage company Vision Globale for $118 million.
Pierre Dion, president and CEO of Quebecor Inc. (TSX:QBR.B) and Quebecor Media, said the asset purchase is part of a strategy of diversifying TVA’s sources of revenue – predominantly from French-language, conventional television in Quebec.
Vision Globale has done film and TV work at its facilities for local and foreign producers. Its provides soundstage and equipment leasing as well as post-production services.
Among the assets that TVA will acquire are Mel’s Cite du cinema in Montreal and Studios Melrose in St-Hubert, Que.
It has also developed proprietary online transaction and distribution technology for video on demand and digital cinema and has rights to technology for converting two-dimentional images to 3D.
“With the acquisition of the assets of Vision Globale, we will also be bringing on board a talented and competent team of seasoned managers and employees,” said Julie Tremblay, president and CEO of TVA Group.
“Together, we will implement a growth plan that will bear fruit in the near future.”
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