New 24/7 international children’s TV channel planned
Tuesday, April 3rd, 2007
DIC Entertainment (’DIC’), a leading global brand management company, today announced its participation in the creation of ‘KidsCo,’ a new international children’s television channel. DIC’s partners in KidsCo are the Sparrowhawk Media Group, which owns the international Hallmark Channels outside of the US, and Canadian-based media group Corus Entertainment, owner of major children’s programme maker Nelvana.
Each party will own a third of the new channel, which will launch in autumn 2007 in Central and Eastern Europe. It is planned to reach approximately 40 countriesin Europe, Latin America and Asia Pacific by 2009. The channel will be distributed using Sparrowhawk’s broadcast facility in Denver and the company’s international network of affiliates.
KidsCo, a 24/7 multi-platform channel, will have access to nearly 6,000 half hours of children’s entertainment, one of the biggest programme resources in the world, through the combined catalogues of DIC and Nelvana. As well as commissioning new content from DIC and Nelvana, KidsCo will license programming from third party children’s content suppliers. Programming will be localised market by market.
DIC will invest approximately $4 million over two years in the enterprise, with a first year share of losses expected to be around $2 million. The channel is expected to be earnings enhancing by the end of year three.
(Source: London Stock Exchange)
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