Egmont Imagination Cuts Production, Assets On Block

Egmont Imagination, the animation production-distribution subsidiary of Danish media giant Egmont, is scaling back its production and development infrastructure in anticipation of an asset sale.

Kenneth Plumber, chairman of Egmont Imagination and managing director of Nordisk Film, which is overseeing Egmont’s television production and distribution operations, cited the cost of running an animation studio and a decision to focus on the Nordic market as reasons for cutting the division out of the company’s corporate strategy.

Egmont Imagination was established in 1996 in Copenhagen to create develop, produce and exploit kids cross media properties. The Egmont Group is actively seeking a buyer for the division’s assets, which include Disney Channel’s Lizzie McGuire, The Upstairs Downstairs Bears, St. Bear’s Dolls Hospital, Aardman’s Rex The Runt and Barry Purves’ award-winning stop motion special Hamilton Mattress.