FRV Acquires Imavision

MONTREAL, June 21: Canadian producer and distributor FRV
Media has reached a deal to acquire Imavision, which distributes TV and DVD
titles in North America and French-speaking Europe, for $26 million.

The company is being acquired from 4303385
Canada inc. (controlled by Imavision’s president and general manager, Pierre
Paquet) and 2947609 Canada inc. (owned by the family of the late Gabor Kertesz,
co-founder of Imavision).

Imavision brings to FRV its experience with the direct
marketing and web distribution of DVDs in the North American and
French-speaking European marketplaces. It has a catalogue of more than 300
North American and European titles, such as Little House on the Prairie, A
Species Odyssey and Insectia. It has a strategic distribution partnership with
Lionsgate and relationships with retailers such as Wal-Mart, Zellers, Best Buy,
Future Shop and Costco. Imavision, meanwhile, will benefit from FRV’s
distribution subsidiary Delphis Films and its catalogue of content.

"This timely acquisition will transform the size and
scope of FRV and create a leading, coherent consolidator of content sources and
distribution channels, both in terms of platforms and geography, able to seize
new market opportunities,” said FRV President and CEO Richard Laferrière. “Our
new business model will also allow us to improve and balance our financial
position as we acquire an increased and more regular stream of revenues,
independent of government contributions.”

Imavision’s Pierre Paquet will remain president and GM of
the company.