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Blue Ant Media Going Public Through Reverse Takeover Of Boat Rocker Media; Boat Rocker Studios Set For MBO
Canada's Blue Ant Media will go public after buying compatriot Boat Rocker Media.
The agreement will see the Michael MacMillan-owned Blue Ant listing on the Toronto Stock Exchange through a reverse takeover of Boat Rocker, whose management is concurrently buying out its studios business. Also part of the agreement, Blue Ant will inherit three Boat Rocker producers in Canada – Insight Productions, Jam Filled Entertainment, and Proper Television, which collectively delivered C$118M in revenue in 2024, based on unaudited results. The new-look Blue Ant will receive C$25.5M as a minimum cash balance and working capital, around $11.6M from The Initial Group’s ownership of Boat Rocker and several other financial guarantees.
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