Kew Media Group has acquired the Toronto-based producer Sienna Films, which is behind such scripted hits as Cardinal.
Sienna has a roster of scripted television series that includes Cardinal, which is now in production on seasons two and three and has aired on CTV in Canada, Hulu in the U.S. and BBC Four in the U.K.; Ransom, now in production on season two and has aired on Global Television in Canada and CBS in the U.S.; and Combat Hospital, for Global Television in Canada and ABC in the U.S. There’s also Diamonds, for CBC in Canada and ABC in the U.S.
Kew Media paid consideration on closing of $3 million for Sienna, comprising $2,580,000 in cash and $420,000 in Class B Shares, representing a multiple of 2.7 times estimated annual trailing Adjusted EBITDA of $1.1 million. Sienna was founded by producers Jennifer Kawaja and Julia Sereny.
“Jennifer and Julia have built an exceptional company through creative and innovative work and have proven time and again the ability to develop and deliver quality content,” said Kew CEO Steven Silver. “We welcome these two truly great professionals into our group.”
“As independent content producers who have devoted our careers to compelling and meaningful stories for a range of audiences, the opportunity to be part of Kew Media’s strong international platform is extremely exciting,” said Sienna’s Kawaja and Sereny.