Canadian kids’ animation entertainment company Wow Unlimited Media and content creation company Bell Media have entered into a deal that will bring Wow! programming to Bell channels in exchange for equity in the production outfit. The deal also includes an agreement to jointly develop and produce content.
Wow CEO and chairman Michael Hirsh said, “This strategic partnership will drive our planned multi-platform rollout of a new paradigm in entertainment for kids and youth across North America. In addition, the support and collaborative efforts of Canada’s leading media and telecommunication company will provide strong momentum to Wow’s global expansion plans.”
The transaction will be structured as an asset purchase with Wow! picking up the broadcasting license for Category B specialty service from Bell Media in exchange for over three million voting shares (12 per cent), priced at $6.86 million. Bell Media will also be able to nominate a rep to Wow!’s board of directors following the closure of the transaction.
“We are very excited about our strategic partnership with Wow and the opportunity to work with them in realising their strategy of becoming a best in class international producer of kids and youth content,” said Bell Media president Randy Lennox. “As part of our partnership, Bell Media will leverage Wow’s programming for use across all of our platforms including linear television, CraveTV, and SnackableTV.”