LONDON — Animation company SKD Media is acquiring fellow animator Carrington Prods. Intl. in a £14 million ($22.5 million) deal.
The merged company will be called Entertainment Rights, with Carrington’s owners taking a 28% stake. SKD is raising an additional $21.4 million for further acquisitions and production.
The move will combine SKD’s library of 50 hours of programming — including “Budgie the Little Helicopter” — with Carrington’s 50 hours, which includes titles such as “Zorro,” “Sinbad” and “The Snow Queen.”
The new outfit will be headed by SKD chief exec and former Warner exec Mike Heap. Craig Hemmings, Carrington’s chief exec, will be a full-time board member overseeing acquisitions and production coordination.