Canada's Entertainment One is taking a stake in Bernie Su's Canvas Media Studios, with an eye to co-producing scripted series for digital and linear TV channels via a first-look deal.
Terms of the equity investment in the digital studio launched last year by Su and David Tochterman weren't disclosed. Su earlier created The Lizzie Bennett Diaries, a transmedia web series that streamed from 2012-13.
The agreement will see Canvas expand its production and distribution of scripted content for digital and traditional media, including VOD and video-streaming platforms. Canvas will work with eOne Television via a first-look deal to produce and distribute its content worldwide.
"In addition to providing resources to fulfill our vision for developing and producing multiplatform premium scripted content, eOne's strategic investment in Canvas Media Studios will enable us to pursue a range of distribution and co-financing opportunities, including identifying third-party content," Tochterman, co-founder of Canvas Media, said Thursday in a statement.
After its Stylehaul series Vanity, Canvas Media is developing its first TV series, Socio, for MTV. The crime thriller, created, written and directed by Su, stars India Eisley (The Secret Life of the American Teenager).
Canvas also is developing an unnamed comedy through an exclusive development deal with Between star Jennette McCurdy and an experimental 360-degree scripted comedy series The Mobile Oval, co-produced with The Young Turks, as part of a Canvas Labs incubator.
Canvas Media received earlier investments from Allen DeBevoise's Third Wave Digital and MNM Creative.