Blue Ant receives approvals for Thunderbird deal

Executive Summary

• Blue Ant Media Corp. has received final court approval from the Supreme Court of British Columbia and a no-action letter from the Competition Bureau for its proposed acquisition of Thunderbird Entertainment Group Inc.
• These approvals satisfy the final regulatory and judicial conditions required under the previously announced plan of arrangement.
• The transaction is anticipated to close this month, subject to customary closing conditions, as Blue Ant positions itself for scaled growth.

Key Details

• Transaction Structure: Acquisition of all outstanding shares of Thunderbird Entertainment Group Inc. via a plan of arrangement under the BC Business Corporations Act.
• Regulatory Approval: Competition Bureau issued a no-action letter, satisfying the Competition Act approval condition in the arrangement agreement.
• Judicial Approval: Supreme Court of British Columbia issued the final order required prior to closing.
• Closing Timeline: Expected to complete this month, pending satisfaction of customary closing conditions.
• Strategic Rationale: CEO Michael MacMillan noted the approvals mark key milestones to scale Blue Ant for its next phase of growth.
• Company Operations: Blue Ant operates a diverse portfolio of free streaming and pay-TV channels (including Love Nature, Cottage Life, Smithsonian Channel Canada, BBC Earth Canada, HauntTV, Homeful, and Love Pets) and the subscription streaming service MagellanTV, alongside a global production and distribution studio.

Notable Quotes

• "We are pleased to cross two additional milestones on our path to acquiring Thunderbird," said Michael MacMillan, chief executive officer of Blue Ant. "We look forward to completing the transaction and together scaling Blue Ant for its next phase of growth."