Yahoo Finance Jeff Zucker-Led RedBird IMI Acquires TV Production Company Efran Films Canada, Which Is Rebranding as Bright North Studios
RedBird IMI, the media investment firm led by CEO Jeff Zucker, has acquired Bright North Studios, the TV production company previously known as Efran Films Canada.
Toronto-based Efran Films Canada is rebranding as Bright North Studios. The company, which specializes in narrative nonfiction TV, has produced shows including “FBI True” (CBS), “Never Seen Again” and “PD True” (Paramount+), “100 Days to Indy” (CW), “While the Rest of Us Die” (Vice TV), and “Who the (Bleep) Did I Marry?” (Investigation Discovery).
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Financial terms of RedBird IMI’s acquisition of Efran Films were not disclosed. As part of the deal, Shawn Efran will continue as CEO of Bright North Studios and co-founder Morgan Hertzan will assume the role of CEO of Bright North Studios USA. Hertzan and Efran previously worked together at “60 Minutes” and sold LX.TV to Zucker. Hertzan was most recently president of global TV at Vice Media Group, where he oversaw all television operations. Zucker, formerly CEO of CNN, will hold a seat on the board of Bright North Studios.
RedBird IMI was established in 2022, aiming to snap up media properties across news, entertainment and sports sectors. The firm is a joint venture between RedBird Capital Partners and Abu Dhabi-based International Media Investments. The Efran Films acquisition is the sixth for RedBird IMI, following deals for scripted production company Media Res, unscripted production company EverWonder Studios, children’s entertainment company Hidden Pigeon Co., digital outlet Front Office Sports and U.K.-based production company All3Media Group, valued at $1.45 billion.
“Bright North Studios is an industry leader in producing cinematic quality content around true stories and a great addition to our expanding portfolio,” Zucker said in a statement. “There is an incredible demand from networks and streaming platforms for content that offers unparalleled access to key figures and takes viewers behind the scenes of newsworthy events. Shawn, Morgan and their team have mastered the art of telling authentic stories with unrivaled quality. We look forward to working with Bright North to continue to grow their studio and distribution network.”
Efran said in a statement, “RedBird IMI and Jeff have rapidly put together an incredible suite of creative companies — truly the best in our business. We are honored and thrilled to be part of RedBird IMI and look forward to telling even more, even better true stories with this new investment.” Hertzan added, “Bright North makes true stories that are incredibly watchable within a business model that is highly in demand in our industry right now. Our best days are ahead, and I am thrilled to be joining RedBird IMI.”
RedBird IMI’s acquisition of Bright North Studios closed Sept. 19, and has been approved by the Minister of Canadian Heritage, the company said.
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