Principal Media Announces Strategic Investment in Chesler/Perlmutter, Expanding Film Production Capabilities
(yahoo.com)
Strategic investment provides Libra Group media subsidiary the ability to produce original film and tv programming for global distribution.
HOLLYWOOD, Calif., Nov. 28, 2022 /CNW/ — Leading global content distributor Principal Media, a subsidiary of Libra Group, has announced a strategic investment in Toronto-based Chesler/Perlmutter Productions (C/P), a world-renowned production company with over 30 years of experience developing and delivering award-winning scripted television series and films.
The strategic investment expands Principal Media’s capabilities into the development and production of movies, documentaries, and other programming. The transaction leverages Principal Media’s distribution network, which includes Netflix and other leading platforms, to further amplify C/P’s content globally. It also provides access to a deep library of content that will be available as part of Principal Media’s catalog and included in the upcoming launch of ad-supported streaming channels.
Based in Hollywood, Principal Media has nearly 20 years of experience distributing a wide range of television programming across genres such as food, lifestyle, documentaries, sports, and wildlife. Its customers include leading networks and digital platforms around the world, including Netflix, Disney, Showtime, and the Discovery Channel, among many others. Following the investment, Principal Media will have access to C/P’s vast array of original and scripted content, ranging from romantic films that deliver high ratings to the award-winning dramatic thriller series that started it all, The Hitchhiker. Principal Media is a subsidiary of Libra Group, a privately-owned international business group whose subsidiaries own and operate assets in nearly 60 countries.
“When Principal Media set out to team up with original content creators, we could not have been more pleased to land on the extraordinary, long-running success story that is Chesler/Perlmutter Productions. The movie magic they’re able to consistently deliver is unparalleled,” said Gary Rosenson, Chief Executive Officer of Principal Media. “The creative possibilities are endless as we merge Chesler/Perlmutter’s dynamic storytelling with Principal’s global distribution network to create riveting new programming including films, series and documentaries that will be enjoyed around the world.”
Based in Toronto, C/P is one of North America’s most significant independent TV and film production companies known for developing, financing, producing, and distributing to major networks and platforms around the world. Their portfolio includes the work of celebrated directors such as Kathryn Bigelow, Ivan Reitman, and Paul Verhoeven, and leading actors including Helen Hunt, Jason Bateman, Helen Mirren, Jim Carrey, Patricia Arquette, Rob Lowe, and many others.
“As opportunities for content creation continue to expand, we’re thrilled to extend our global reach through Principal Media,” said Lewis Chesler, Co-Founder and Executive Producer at C/P. “We are excited to work with Principal, a company that shares our deep family values, to generate even more storytelling opportunities to run through our Canada-based team while we pursue even more incremental revenue-generating opportunities.”
“Through this investment Principal Media will benefit from Chesler/Perlmutter’s proven excellence in filmmaking, giving Principal new capabilities to make original films that can be distributed around the world,” said Phaedra Chrousos, Chief Strategy Officer of Libra Group. “The possibilities for innovation in both content production and distribution are limitless. We look forward to continuing to grow in this dynamic sector and evolving our capabilities through future strategic investments.”
This investment is the next step for Principal Media as it continues to grow its global entertainment services. It also follows continued investment by Libra Group in its global media portfolio. The family-owned group is predominately active in six business sectors, including maritime, aviation, hospitality, real estate, renewable energy, and a growing presence in media.
About Principal Media
Since 2005, Principal Media has been licensing its uniquely vast and always expanding catalog of content to TV networks and digital platforms worldwide. The Hollywood-based team represents a wide variety of programming genres to an equally diverse array of networks and digital platforms around the world. To keep its catalog fresh, Principal Media works closely with producers of all kinds to help monetize finished programming and develop and co-produce original series. It works with a wide range of leading partners, including Netflix, Showtime, and Disney. Principal Media is a subsidiary of Libra Group, a privately-owned international business group whose subsidiaries own and operate assets in nearly 60 countries.
About Chesler/Perlmutter Productions
Chesler/Perlmutter Productions is a Canadian production company with global reach, focused on developing, producing and distributing television movies for US, Canadian, and international broadcasters, as well as theatrical movies for national and international distribution. As one of Canada’s first independent family film production companies, Chesler/Perlmutter has established itself in North American and global film markets through its development, production, and distribution of content. The company is based in Toronto and operates a production studio in Hamilton, Ontario.
About Libra Group
Libra Group (www.libra.com) is a privately-owned, global business group that encompasses 30 operating entities – 20 businesses predominately focused on aviation, energy, maritime, real estate and hospitality, diversified industries, and 10 social initiatives. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale, while mitigating risk. Today, Libra’s Social Responsibility Programs include 10 social initiatives created to address unmet needs and grantmaking that helps people worldwide. Throughout its 30 entities, the Group is focused on maintaining its innovative culture supporting human potential, and always delivering growth with good – twin engines that power the Libra ecosystem.
By: Ariana Rivera
