Canadian kids’ entertainment company Wow! Unlimited Media and Bell Media have struck a deal that will bring Wow! programming to Bell channels in exchange for equity in the production outfit. The deal also includes an agreement to jointly develop and produce content.
“This strategic partnership will drive our planned multi-platform rollout of a new paradigm in entertainment for kids and youth across North America,” said Michael Hirsh, Chairman and CEO of Wow! “In addition, the support and collaborative efforts of Canada’s leading media and telecommunication company will provide strong momentum to Wow’s global expansion plans.”
The transaction will be structured as an asset purchase, with Wow! picking up the broadcasting license for Category B specialty service from Bell Media in exchange for over 3 million voting shares (12%), priced at $6.86 million. Bell Media will also be able to nominate a rep to Wow!’s board of directors following the closure of the transaction.
“We are very excited about our strategic partnership with Wow and the opportunity to work with them in realizing their strategy of becoming a best in class international producer of kids and youth content,” said Randy Lennox, President, Bell Media. “As part of our partnership, Bell Media will leverage Wow’s programming for use across all of our platforms including linear television, CraveTV, and SnackableTV.”