You will be redirected back to your article in seconds

Fox Kids Europe turns $6.5 million profit

Disney takes on Saban programming distribution

AMSTERDAM — Fox Kids Europe has posted an after-tax profit of $6.5 million for the six months ending Dec. 31, up from a loss of $413,000 for the same period the previous year. Sales rose 33% to $67.8 million.

The channel, now 76%-owned by Disney after the Mouse’s acquisition of Fox Family Worldwide last fall, also announced that Buena Vista Intl. Television will take over distribution of its Saban library, which contains over 6,300 episodes of kidvid.

Ynon Kreiz, chairman and CEO of FKE, described the move as a first step in maximizing the potential of Disney and Fox’s assets in the region.

“We will be able to leverage resources, Disney’s larger local and international expertise, and the larger sales force throughout Europe and the Middle East,” he told Daily Variety.

Synergies with BVI-TV, with its library of movies, prime time series and other kidvid, “can only help add to our bottom line,” Kreiz added.

FKE’s boosted its subscriber base by 20% to 30 million homes in Europe and the Middle East by the end of February, year-on-year. Kreiz credited the upturn to localizing the service in 17 languages.

FKE also announced several new efforts to up its programming offering, including opening an office in Japan, from where many of the channel’s most successful titles have come.

A consequence of the Disney take over has been a reduction in the number of hours of new programming available to FKE.

FKE as well registered a one-off charge of $11.9 million reflecting a valuation of the channel’s library going back to the inception of the business. The charge is a result of an accounting change in U.S. law.

More Biz

  • Aretha Franklin'Clive Davis: The Soundtrack of

    Three Handwritten Wills Found in Aretha Franklin's Home

    While Aretha Franklin was thought to have died without leaving behind a will, earlier this month three documents were discovered by her niece and filed in court earlier this week, according to the Associated Press. Two handwritten wills, dating from 2010, were found in a locked cabinet, and another from 2014 was discovered in a [...]

  • WGA Agency Packaging Fight Placeholder Writer

    Gersh Agency Stirs Ire After Canceling Network Meeting for Former Client

    In a sign of hostility in the war between the WGA and Hollywood’s largest talent agencies, Gersh Agency has come under fire from TV and film writers for canceling a network meeting that it had arranged for a now-former client. Writer Jorge Reyes disclosed the incident in a series of tweets on Monday. Reyes asserted [...]

  • Streaming Placeholder

    TikTok Owner Preparing Streaming Service to Rival Spotify (Report)

    ByteDance, the Beijing-based owner of the TikTok video app, is developing a paid streaming music service aimed at the same emerging markets that Spotify and Apple are seeking to explore, according to a report in Bloomberg. The app could be introduced as early as autumn, according to the report, which adds that the company has [...]

  • Stranger Things

    Coca-Cola Will Revive New Coke in Alliance With Netflix, 'Stranger Things'

    A rush of TV watchers to streaming video has prompted Coca-Cola to test an interesting pour. Coca-Cola will bring New Coke back to market for a brief time, all part of a partnership with Netflix, which has featured Coke in its cult-favorite series “Stranger Things.” The third season of the series, set in 1985, will [...]

  • Doug Davis and Jodie ShihadehVariety Power

    Jodie Shihadeh Named Partner at The Davis Firm

    Jodie Shihadeh has been named Partner at The Davis Firm, PLLC. She joined the firm in 2011 and rose from associate to Managing Attorney and now partner. She graduated from Boston College and received her law degree from Fordham University School of Law in 2011. While still in law school she interned in the Business [...]

  • Peak TV Saturation TV Placeholder

    Nickelodeon Alum Keith Dawkins Sets Kidvid Partnership With Believe Entertainment Group

    Former Nickelodeon executive Keith Dawkins has partnered with Believe Entertainment Group to develop children’s programming. Dawkins will partner with Believe under his newly formed Rock Hill Media Ventures, which aims to advise companies in media, entertainment and sports on working with diverse and emerging talent. Dawkins previously spent 17 years at Viacom, most of which [...]

More From Our Brands

Access exclusive content