Rainmaker & Frederator Combine to Form WOW!


VANCOUVER: Rainmaker Entertainment is combining with Frederator Networks and Ezrin Hirsh Entertainment (EH) to create WOW! Unlimited Media, a next-generation kids’ and animation business with a focus on digital platforms and content.

Michael Hirsh, former executive chairman of DHX Media and co-founder of Nelvana and Cookie Jar Entertainment, will lead the new company as CEO and chairman of the board. Fred Seibert, founder of Frederator Networks, will serve as chief creative officer.

To form WOW!, Rainmaker Entertainment entered into an arm’s-length merger agreement with Broadway Frederator Networks Inc., Frederator Allied Media Inc. and Fred Seibert, which collectively does business as Frederator Networks. The deal has an implied enterprise value of approximately $17 million. Rainmaker agreed to concurrently acquire, pursuant to an arm’s-length share purchase agreement, Ezrin Hirsh Entertainment at an implied enterprise value of approximately $5.2 million. The company will change its name to WOW! following the completion of the transaction.

Seibert, who will become the largest shareholder in WOW!, stated: “Frederator’s goal of pursuing world-class talent will be increased exponentially by creating WOW! Unlimited with Michael Hirsh and his team, and Rainmaker Entertainment. The vertical integration will facilitate discovery of new digital filmmakers, leveling them up to produce premium, global programming, while simultaneously growing digital platforms with both advertising and subscription support.”

Hirsh, the largest shareholder of EH and the incoming CEO and chairman, said on the business combination: “WOW! Unlimited is combining Frederator, the world’s leading digital animation network, Rainmaker, a leading and innovative animation production platform with the management team from Ezrin Hirsh including Bob Ezrin, Neil Chakravarti and Christian Davin, all superstars in their own right. Through partnerships with great media and telecom companies around the world, we will build the definitive next-generation global kids’ and youth company.”

Craig Graham, the current chairman and CEO of Rainmaker, added: “I appreciate the efforts and cooperation of the Rainmaker bondholders, shareholders and management in consummating this transformational transaction. We have worked hard at Rainmaker to build a great animation studio with the support of our clients, and we welcome the Frederator and Ezrin Hirsh teams to work together with us as we grow to the next level.”