NBCU and Corus increase stakes in KidsCo
NBCUniversal International has confirmed the acquisition of a controlling 51 per cent stake in international children’s channel, KidsCo, in partnership with existing shareholder and content supplier Corus Entertainment, who also increased its equity in the channel to 43.8 per cent. The announcement was made by Kevin MacLellan, President, International Television, NBCUniversal and Doug Murphy, President, Corus Television.
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 served as interim MD since November 2011.