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Corus Entertainment Inc. sells Toon Boom Animation Inc. to Integrated Media Company for C$142M

Date Closed

August 24, 2023

Lead Office

Toronto

Value

142.00 Million CAD

On August 24, 2023, Corus Entertainment Inc. ("Corus") closed the sale of Toon Boom Animation Inc. ("Toon Boom") to Integrated Media Company ("IMC") for C$142 million. Corus and IMC had previously signed a deal on the sale of Toon Boom on July 13, 2023. Corus intends to use the net proceeds generated from the transaction to repay outstanding bank indebtedness.

Corus Entertainment Inc., headquartered in Toronto, Ontario, is a Canadian-based media and entertainment company.

Integrated Media Company, based in New York, New York, is a TPG platform thematically investing across the digital media landscape.

Toon Boom, located in Montreal, Quebec, is an Emmy® award-winning animation software company.

McCarthy Tétrault advised Corus Entertainment Inc. with a team led by Heidi Gordon that included Isabelle Nazon, Haiya Peng, Vivian Sy (M&A), Mehnaz Quadri (Corporate), Christine Ing, Conrad Lee (Technology), Marie-Soleil Landry, Geneviève Favreau, Simon Douville (Tax), Kate McNeece, Alykhan Rahim (Foreign Investment), Vincent Yip (Intellectual Property) and Émilie Thibault (Labour and Employment).

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