Lionsgate plans to sell Maple Pictures, a Canadian distributor, to Alliance Films, for $38.5 million, TheWrap has confirmed.
The company will issue a statement about the pending sale as soon as Tuesday, an individual familiar with transaction told TheWrap.
In a February conference call with analysts, Lionsgate CEO Jon Feltheimer said he planned to monetize non-core assets. The sale is part of that initiative.
Maple's co-presidents, Laurie May and Brad Pelman and other senior executives will move to Alliance, the individual familiar with the transaction said.
Maple, which primarily distributes movies, TV programs and DVDs for Lionsgate in Canada, was formed in 2005.
Maple's most recent distribution project was the kids movie "Judy Moody and the Not Bummer Summer," which debuted earlier this month.
Deadline first reported the news.
