In the deal, widely expected since KidsCo co-founder Paul Robinson left at the end of last year, NBCUI gets a controlling stake in KidsCo, with Corus Entertainment increasing its stake to 43,8%. Paul Robinson will retain a 3,3% stake in the channel.
"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," said NBCU president of international television Kevin MacLellan in a statement which was issued to today, but not to South Africa.
Hendrik McDermott will now head KidsCo who has been the interim managing director since November 2011 and Paul Robinson's exit last year. "Hendrik willprovide 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.
"KidsCo has become synonymous with quality, family-friendly entertainment," said Doug Murphy, the president of Corus Television, in the statement. "Corus is excited to deepen our partnership with NBCUniversal to help grow the KidsCo business and build on its already strong international reputation as a diverse and dependable entertainment destination."
