Post Modern Group (PMG) is pleased to announce that it has finalized the purchase of the assets of Toronto based Criterion Pictures, Visual Education Center and International Telefilm.
Criterion Pictures is the largest provider of feature films to the Canadian market with more than 15,000 films from Paramount Pictures, Warner Bros., Fox, and a host of independents.
Criterion Pictures USA is the exclusive non-theatrical distributor for Fox and a number of independents. Visual Education Center is Canada’s leading provider of audio and video educational resources and International Tele-Film is Canada’s largest distributor of training resources.
Our goal is to build a comprehensive resource for non-theatrical distribution worldwide. Strategic acquisitions and partnerships provide us with new/enhanced secure content delivery solutions, new/expanded market penetration, expanded sales efforts and enhanced marketing. Criterion Pictures, VEC and ITF complements our cruise ship distribution through Sea Movies and positions the Post Modern Group as an industry leading non-theatrical distributor. We are very enthusiastic about this acquisition and we are committed to taking the Non-theatrical business to the next level with the full benefit of PMGs technical capabilities and studio relationships. Union Bank facilitated the financial aspects of this acquisition.
We have been approached many times over the years by potential suitors but only PMG has demonstrated the necessary commitment, capabilities and enthusiasm for non-theatrical distribution. This is a great fit for us and I am confident that PMGs technical expertise, proven track record with Sea Movies and strategic expansion plan will serve the non-theatrical market exceptionally well. Signal Hill acted as the exclusive financial advisor to Criterion in connection with this transaction.