While he was a great proponent of Duck Season, we don’t think Bugs Bunny officially recognized Acquisitions Season. But given the activity over the last few days, it looks to be upon us. The latest? Private investment firm Arkaga Fund has brought UK-based producer and distributor Parthenon Entertainment into its fold, and is pairing it up with previous acquisition Entara to create a new global entertainment business.
Parthenon brings its production and distribution expertise to the table, while Entara will supply its licensing know-how gained from managing a stable of properties that includes The Magic Roundabout and Those Scurvy Rascals. Combined, the Parthenon/Entara venture is expected to generate annual revenues in excess of US$17 million right out of the gate.
Carl Hall, founder and MD of Parthenon Entertainment, is taking the helm of the new entertainment group as CEO, while current Entara chairman David Cardwell also becomes chairman of Parthenon Entertainment. Regis Brown, former EVP of Entara, is joining Parthenon as president of new children’s division Parthenon Kids (established earlier this year) and will oversee its growing portfolio. Theresa Plummer-Andrews, meanwhile, remains a non-executive director at Entara and will take on the same role at Parthenon Kids.