NBCUniversal, Corus up their stakes in KidsCo
NBCUniversal International has acquired a controlling 51% stake in global children’s channel KidsCo, while partner Corus Entertainment also upped its stake to 43.8%.
The new arrangement was struck after the pair purchased Toronto, Canada-based Cookie Jar Entertainment’s minority stake in KidsCo. Cookie Jar is exiting the joint venture after five years to expand its business outside the partnership.
Cookie Jar, however, will continue to supply content to KidsCo and has inked a new multi-year licensing deal with the channel.
Hendrik McDermott, meanwhile, has been tapped to lead KidsCo operations as MD, after serving as its interim MD since November 2011.
KidsCo initially launched in September 2007 as a JV between NBCUniversal International (Sparrowhawk), Corus Entertainment (Nelvana) and Cookie Jar Entertainment (DIC).