Beyond to Acquire TCB Media Rights

ADVERTISEMENT

Beyond International says it is acquiring TCB Media Rights from FTI Consulting Canada, the receiver of Kew Media Group.

The agreement is subject to customary conditions, including the approval of the transaction by the Ontario Superior Court of Justice. If the transaction is approved by the court, on closing Beyond Entertainment will acquire 100 percent of the share capital of TCB for cash consideration and will also advance to TCB sufficient funds to repay an intercompany debt owing to Kew.

Mikael Borglund, CEO of Beyond International, said that the acquisition of TCB is strategic and is expected to significantly increase the scale of the Beyond Distribution business.