WildBrain to Sell Majority Stake in Channels Business

WildBrain is selling a majority stake in its TV channels business—including Family Channel—to IoM Media Ventures.

The deal to offload just under 67 percent of the business will see WildBrain receive more than C$40 million over the next four years in the form of upfront and deferred purchase consideration, minority participation distributions, content licensing and other fees. WildBrain will retain a 33.3 percent stake in the business, which encompasses Family Channel, Family Jr., WildBrainTV and Télémagino.

Josh Scherba, president and CEO of WildBrain, said: “As we continue to strategically focus on driving high-growth areas for key global franchises and partnerships, this transaction is a critical step forward in simplifying our business. Financially, we believe it strikes a balance between economic participation for WildBrain while benefiting our leverage profile over the long term. We’re confident that, with IoM, the channels will pass to a strong independent Canadian studio. As a partner with IoM, we look forward to working with them to uphold the prominent legacy of these channels with a dedication to delivering best-in-class content for Canadian families.”

Dana Landry, president and CEO of IoM Media Ventures, added: “We’re thrilled to deepen our partnership with WildBrain, and we look forward to integrating these channels and resources into our ecosystem after close of the transaction to accelerate growth as we look to invest boldly in content and expand our footprint in the kids’ and family entertainment space.”