Canada's DHX Media to Acquire Cartoon Maker Nerd Corps
The $57 million deal gets the Teletubbies owner's kids library to over 11,000 half hours
Teletubbies owner DHX Media now has over 11,000 half hours of kids content after acquiring rival Canadian animation producer Nerd Corps Entertainment for $57 million.
DHX Media, which has been expanding since buying Cookie Jar Entertainment in 2012, adds another 200 half-hours of kids shows with the acquisition, including Disney XD's Slugterra, League of Super Evil and Storm Hawks. The Halifax-based producer last month pacted with the digital broadcast arm of state broadcaster China Central Television to launch a streaming service exclusively offering DHX's kids content in China.
Nerd Corps co-founder Asaph Fipke and president Ken Faier will assume senior executive posts in DHX Media's kids and family division. "Nerd Corps has an outstanding reputation and track record for high-quality animation, and we believe this is a perfect fit for DHX Media, one that will add significant value and expertise," DHX president and COO Steven DeNure said in a statement Tuesday.
Nerd Corps has around 400 artists at its Vancouver animation studio. DHX Media is best known for its Yo Gabba Gabba!, Caillou and Inspector Gadget kids series.
The Canadian producer is distributing its expanding kids content library to its own premium YouTube channels and other subscription-based VOD platforms internationally. The deal for Nerd Corps is expected to close by Dec. 24, 2014.