Alliance Films is close to paying in the region of $40m for Lionsgate-owned Canadian distributor Maple Pictures, according to press reports.

People with knowledge of the deal said the move was likely to conclude in the next several days. Lionsgate has been looking to divest itself of non-essential assets after a costly ownership struggle with corporate raider Carl Icahn.

The deal would effectively give Alliance Canadian distribution rights to Lionsgate’s slate.

Screendaily will bring further details as they emerge.