Fox Kids Europe NV will be relocating its London and Paris offices to take up residence at local Walt Disney Company facilities. FKE’s U.K. operation will move into its own independent spaces at Disney’s Chiswick Park and Hammersmith offices in London, while its French branch goes to Disney Channel offices at Disneyland Paris in Marne-La-Vallee.
As part of this initiative, Disney will provide services to FKE including state-of-the-art transmission, post production and library facilities as well as IT and bookkeeping services.
The relocations, which will not impact FKEs independent management and ownership structure, are expected to occur by the end of the current fiscal year. Disney has agreed to pay half of FKE’s cost of moving, which is estimated at $12 million.
Bruce Steinberg, chairman and CEO of Fox Kids Europe, says the move is "part of a continuing process to identify and capture synergies between FKE and Disney, our majority shareholder." He goes on to say, "This will significantly enhance and secure broadcast capabilities for our U.K., French and Scandinavian channels as well as a number of our channels that cover Central and Eastern Europe."