Boat Rocker Media has acquired unscripted production company Matador Content, best known for producing Paramount Network’s “Lip Sync Battle,” in a cash and stock transaction, the companies announced on Thursday.
Matador Content will keep its name and its leadership team, meaning founders Jay Peterson and Todd Lubin will remain atop the company, which will join the Boat Rocker group. The two companies will focus on targeting high-priority intellectual property (IP) and accelerating its path to the global content marketplace.
This transaction marks Boat Rocker’s largest expansion into the U.S. market.
“We are thrilled to partner with Jay, Todd and the entire Matador team, as Boat Rocker continues to expand its capabilities as a global studio with a focus on premium content production and brand building,” said David Fortier and Ivan Schneeberg, co-executive chairmen, and John Young, CEO, of Boat Rocker Media. “While we have seen meaningful success in the US market with some of our own original series, we believe that, together with Matador, we will make an even bigger mark in very short order.”
The deal marks Boat Rocker’s third acquisition in 2018, having previously acquired Fremantle’s Kids & Family division as well as a majority stake in Canadian production company, Insight Productions. The partnership with Boat Rocker Media will allow Matador to ramp up its development slate across all genres and to access new sources of financing for pilots and series going forward.
“We have achieved incredible things over the past five years because of the amazing team of people at Matador. Boat Rocker gives us access to a premier financing and global distribution arm that will accelerate our growth and allow us to do even more with our creative and broadcast partners,” said Peterson and Lubin. “We have gotten to know the Boat Rocker team well over the past several years and believe this union perfectly suits the vision we have for our company’s future.”
For Boat Rocker, Paul, Weiss, Rifkind, Wharton & Garrison and Stikeman and Elliott served as legal counsel and TD Securities served as an advisor on the transaction. For Matador Content, CAA and Evolution Media Capital advised on the transaction and Sidley Austin LLP and Hansen, Jacobson, Toberman, Heller and Newman served as legal counsel.