NBCUniversal International Raises Stake in Children's Channel KidsCo
The entertainment company will now hold a 51 percent stake, Corus Entertainment is increasing its holding to 43.8 percent, while Cookie Jar is cashing out.
NBCUniversal International has raised its stake in international children’s network KidsCo to 51 percent, the company said on Monday.
Fellow shareholder and content supplier Corus Entertainment also increased its stake in the channel to 43.8 percent. Both companies acquired parts of a stake held by Cookie Jar, which is exiting the joint venture after five years.
However, Cookie Jar has entered a multi-year content licensing deal to provide kids programming for KidsCo’s channels worldwide, ensuring continuity of the venture's focus on family-friendly content.
Financial details of all the deals weren't disclosed.
Hendrik McDermott is now running KidsCo as managing director after serving as interim MD since November.
“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,” said Kevin MacLellan, president, international television, NBCUniversal.
KidsCo, launched in Sept. 2007, offers content globally in 18 languages via cable, satellite TV and IP TV channels. Its content includes Inspector Gadget, Heathcliff and The Fairly OddParents.