Sources say that Vancouver-based film producer Lions Gate Entertainment is on the verge of purchasing Harvey Entertainment. As reported in VARIETY, Harvey chairman/CEO Roger Burlage has been shopping the home of Casper around to many companies. Last spring Burlage saved Harvey from acquisition by Artisans by securing US$17 million in funding from entertainment company Kushner-Locke and then-investment banker and current Lions Gate vice-chairman, Michael Burns. The funds came in the form of $11.5 million in cash and $5.5 million in Kushner-Locke stock. Since Burlages group acquired Harvey the company reached a new 52-week low on July 19, trading at $2.12 a share. The acquisition would move forward Lions Gates plans to expand its production and distribution capabilities.
Animation World Magazines Heather Kenyon spoke with Rick Mischel, president and COO of Harvey Entertainment, about the companys transition from a licensor to a producer/distributor. Read it here!