Indie studio Blue Ant Media, led by CEO Michael MacMillan, is expected to go public next week after completing a reverse takeover of assets from Boat Rocker Media.The producer of unscripted series like Canada’s Drag Race and Northwoods Survival will begin trading on the Toronto Stock Exchange by Aug. 7 under the ticket symbol BAMI. Blue Ant, a private company controlled by former Alliance Atlantis Communications head McMillan, earlier unveiled a reverse-takeover of Insight Productions, Jam Filled Entertainment and Proper Television picked up from Boat Rocker Media.Blue Ant is mainly comprised of a broadcast and streaming channel business, Blue Ant Studios, a producer of mainly unscripted and animation programming with offices in Toronto, Los Angeles, New York, Miami and London, and a Canadian cable TV channel division.MacMillan, who will serve as CEO of the newly publicly-traded company, said in a statement on Friday: “This is a transformative moment for Blue Ant Media. As a newly public company, we are entering our next phase of growth as a modern, global media business. With a strong capital position, a proven content model and operations across key international markets, we’re well-positioned to scale in a rapidly evolving landscape. We’re proud to welcome our new shareholders as we execute our strategy to drive long-term value through IP ownership, platform reach and global distribution.”The new company boardroom includes Robb Chase as CFO and Brad Martin, formerly with Canadian investment giant Fairfax Financial Holdings, named as chairman of the board. Other company directors include Richard Wernham, founder of Global Strategy Financial Inc., Phyllis Yaffe, a former Alliance Atlantis exec and most recently Consul General to New York for the Canadian government, and Ellis Jacob, president and CEO of Canadian exhibition giant Cineplex.Blue Ant Media will also have a CAD$155 million (US$112 million) credit facility from Bank of Montreal to support ongoing operations, including working capital needs, interim production financing and strategic investments.Before launching Blue Ant in 2011, McMillan in 2007 sold Alliance Atlantis, which at one time held a lucrative half-stake in the popular CSI: Crime Scene Investigation franchise, to a partnership of CanWest Global Communications and Goldman Sachs Capital Partners for $2.3 billion.Separately, Boat Rocker Media’s scripted, unscripted and kids and family TV studio, Boat Rocker Studios, and its distribution arm and brand and franchise management divisions was earlier acquired by Boat Rocker heads Schneeberg, Fortier and Young as part of a management buyout.“This exciting next chapter gives us the independence and flexibility to continue bringing compelling and entertaining stories to audiences around the world, across all genres and platforms,” Fortier, Schneeberg and Young said in a joint statement. “We’re energized by the opportunity ahead and grateful to our partners, creators and teams for their continued belief in Boat Rocker.”
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