Reelpay has completed its acquisition of FilmBazaar, further consolidating the business-to-business e-marketplace for the film and television distribution industries.
Under the terms of the merger agreement, Reelplay acquired FilmBazaar in a stock-for-stock deal. Headed by co-presidents Stephen Liu and Dennis Young, Reelplay is also suggesting that it will look for further acquisition of declining B2B web businesses, of which there are several including ShowBizData and InternetStudios. "There are a number of companies out there, with complementary services to ours, that might not have the financial wherewithal to go forward," said Young "We intend to explore opportunities with these companies over the coming year."
FilmBazaar founder and CEO Kyle Scrimgeour has joined Reelplay as a senior vice president of sales and marketing.
In April this year, Reelplay struck a deal with 20th Century Fox Television Distribution to build a tool for tracking programming and enhancing sales and marketing techniques.