LONDON – NBCUniversal International today announced the acquisition of a controlling 51% stake in international children's channel, KidsCo – in partnership with existing shareholder and content supplier Corus Entertainment, which also increased its equity in the channel to 43.8%.
The announcement was made by Kevin MacLellan, president, International Television, NBCUniversal and Doug Murphy, president, Corus Television and financial details were not disclosed and two former executives also remain minority shareholders.
Toronto children’s programming producer Cookie Jar will exit the joint venture after five years, 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 served as interim MD since November 2011.
KidsCo is committed to expanding and enhancing its content offering to increase its global subscriber base (already spread to Europe, Africa and Asia) and continue to deliver high quality entertainment to the whole family with its safe, non-violent and light-hearted content.
“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,” said MacLellan in the press release.
“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,” added Murphy.
