NBCU acquires majority stake in KidsCo

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

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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