Hendrik McDermott confirmed as managing director
LONDON — NBCUniversal Intl. has acquired a controlling 51% stake in international children’s channel KidsCo.
Move was taken in partnership with existing shareholder and content supplier Corus Entertainment, which has increased its equity in the channel to 43.8%.
Tyke show producer Cookie Jar is exiting the joint venture, which was launched in September 2007, in order to develop its business. The shingle has entered into a new multi-year content licensing agreement to provide programming for KidsCo’s channels.
The newly configured KidsCo will be led by Hendrik McDermott as managing director, having served as interim m.d. since November 2011.
“We see a very bright future for children’s television internationally and believe our highly valued partnership with Corus well positions KidsCo to compete strongly in this market. Hendrik will provide clear operational leadership and will be focused on implementing innovative strategic and technical opportunities to grow the content and distribution base of the company,” said Kevin MacLellan, president, international television, NBCUniversal.
KidsCo airs in 18 languages in more than 100 territories via cable, satellite and IPTV channels.