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MUMBAI:
NBCUniversal International has acquired a controlling 51 per
cent stake in international children's channel, KidsCo.
The
purchase is in partnership with existing shareholder and content
supplier Corus Entertainment, who also increased its equity
in the channel to 43.8 per cent.
Cookie
Jar will exit the joint venture after five years in order
to expand and develop their business outside the KidsCo partnership,
prompting NBCUniversal and Corus Entertainment to acquire
Cookie Jar Entertainment's minority stake.
Cookie
Jar has entered into a new multi-year content licensing agreement
to provide high-quality children's programming for KidsCo's
channels worldwide, thereby assuring KidsCo's existing programming
schedules.
The
newly configured KidsCo will be led by Hendrik McDermott as
managing director, having held that position as an interim
arrangement since November 2011.
Said
NBCUniversal president, International Television Kevin MacLellan,
“We see a very bright future for children's television
internationally and believe our highly valued partnership
with Corus well positions KidsCo to compete strongly in this
market. Hendrik will provide clear operational leadership
and will be focused on implementing innovative strategic and
technical opportunities to grow the content and distribution
base of the company."
KidsCo
is committed to expanding and enhancing its content offering
to increase its global subscriber base. It is identified with
showing safe, non-violent and light-hearted content.
Said
Corus Television president Doug Murphy, “KidsCo has become
synonymous with quality, family-friendly entertainment, and
Corus is excited to deepen our partnership with NBCUniversal
to help grow the KidsCo business and build on its already
strong international reputation as a diverse and dependable
entertainment destination."
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