Blue Ant Media, the content studio formerly known as Boat Rocker Media, has completed its previously announced reverse takeover (RTO), officially transitioning into a publicly traded company, the firm announced on Friday.
The transaction was completed through a statutory plan of arrangement under the Canada Business Corporations Act. As part of the RTO, shareholders of the private Blue Ant Media Inc. exchanged their shares for those of the publicly listed entity. The restructured company is now named Blue Ant Media Corporation and includes Blue Ant Media, Inc. as a wholly-owned subsidiary.
The company’s subordinate voting shares are expected to begin trading on the Toronto Stock Exchange (TSX) under the symbol “BAMI” on or around August 6 or 7, 2025. Until then, shares will continue trading under the “BRMI” ticker on a pre-consolidation basis.
Blue Ant completed a share capital reorganization in advance of the listing, consolidating its shares on a 10-to-1 basis and amending its capital structure. The new share structure includes subordinate voting shares, multiple voting shares, restricted voting shares, and preferred shares. As of the transaction closing, Blue Ant has issued approximately 22 million subordinate voting shares, 75 million restricted voting shares, and 12.5 multiple voting shares. The restricted voting shares were issued to CEO Michael MacMillan to satisfy Canadian ownership requirements under the Broadcasting Act.
The company also finalized the sale of its Boat Rocker Studios business to IDJCo, a private firm controlled by Boat Rocker’s co-founders and its outgoing CEO, as well as the divestiture of a minority stake in a U.S.-based talent management firm to Fairfax Financial. Following these transactions, the former Boat Rocker executives stepped down from their positions.
Michael MacMillan now serves as Chief Executive Officer, with Robb Chase appointed Chief Financial Officer. A new 11-member board of directors has been formed, which includes industry veterans Lisa Knutson, Kevin Johnson and Ellis Jacob.
In connection with the listing, Blue Ant secured a CAD$155 million credit facility through a new agreement with Bank of Montreal and a syndicate of lenders. The facility, maturing in December 2027, will support working capital, production financing, and strategic investments.
Blue Ant Media operates a global content production and distribution business with free streaming and pay TV channels, including Love Nature, Cottage Life, Haunt TV, and Smithsonian Channel Canada. The company is headquartered in Toronto, with offices in New York, Los Angeles, London, and other major global cities.
