Entertainment One receives approval to purchase Alliance Films

EntertainmentOne, co-owner of Peppa Pig and distributor of the Twilight films, has received the green light from regulators to acquire Alliance Films.

The entertainment company had announced that it would purchase Alliance for CAD$225m last September.

It has now been given clearance from the Canadian Competition Bureau and is now free to complete the acquisition of the company, which has rights to films including The King's Speech.

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"A further announcement will be made in due course," the company said in a statement.

Entertainment One has been pursuing Alliance since last January.

Alliance finances and distributes films and controls an 11,000-title film library. It has films such as Lost in Translation, Pulp Fiction, Good Will Hunting, the Lord of the Rings trilogy and The Hunger Games under its banner.

Entertainment One, which as a market capitalisation of £478.67m, is an international company that specialises in the acquisition, production and distribution of film and television content including The Walking Dead and Rookie Blue.

Shares rose 2.92% to 176.50p at 8:55 Thursday.

RD