WildBrain is shuttering its television channels business, which includes Family Channel, Family Jr., WildBrainTV and T\u00e9l\u00e9magino.<\/p>\n
WildBrain had previously reached a deal to sell a majority stake in its channels business to IoM Media Ventures. Following its inability to reach a new carriage agreement with Rogers and Bell’s decision to also drop the services, WildBrain will be shuttering them and surrendering the licenses to the Canadian Radio-television and Telecommunications Commission (CRTC).<\/p>\n
With the move, WildBrain will no longer be subject to applicable Canadian control restrictions under the Broadcasting Act and intends to remove its variable voting structure applicable to non-Canadian shareholders.<\/p>\n
Josh Scherba, WildBrain\u2019s president and CEO, said, \u201cFor nearly four decades, Family Channel has been a trusted destination for Canadian kids and families. We\u2019re incredibly proud of the legacy we\u2019ve built\u2014thanks to our loyal viewers, dedicated television employees and the many talented Canadian producers we\u2019ve partnered with. While it is unfortunate that the channels will be discontinued, the impact on our broader business is minimal and does not affect our go-forward strategy. WildBrain remains a global leader in kids\u2019 and family entertainment, with unique strengths in monetizing entertainment IP across content creation, audience engagement and global licensing. We have deliberately positioned our business to align with changing consumer habits, including a strategic exit from the declining broadcast space in Canada.\u201d<\/p>\n
\u201cWe delivered 17 percent growth year-to-date through the third fiscal quarter, underscoring the strength of our diversified platform beyond the television business despite ongoing industry headwinds,\u201d he continued. \u201cWe remain focused on sustaining that momentum by leveraging our iconic IP\u2014such as Peanuts<\/em>, Strawberry Shortcake<\/em> and Teletubbies<\/em>\u2014across streaming, YouTube, consumer products and immersive fan experiences. As the entertainment landscape evolves, so do we\u2014with a clear vision and an unwavering commitment to delivering quality content and beloved brands to kids and families around the world.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" WildBrain is shuttering its television channels business, which includes Family Channel, Family Jr., WildBrainTV and T\u00e9l\u00e9magino.<\/p>\n","protected":false},"author":290,"featured_media":30332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":0,"footnotes":""},"categories":[21],"tags":[703,750,323,751,1156,10350],"class_list":["post-30327","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-top-stories","tag-family-channel","tag-family-jr","tag-josh-scherba","tag-telemagino","tag-wildbrain","tag-wildbraintv","pmpro-has-access"],"yoast_head":"\n