Toonz Entertainment will be acquiring full ownership of Spanish production/distribution company Imira Entertainment. The announcement was made during the MIPCOM market in Cannes by Toonz Animation CEO P. Jayakumar and Imira CEO Sergi Reitg. The transaction will be finalized upon completion of due diligence.
The agreement will see Imira continuing as a separate production and distribution entity with its existing management structure, but the two companies will take advantage of their ties to offer combined content creation strength and global distribution. Imira will handle TV and licensing rights for Toonz Animation content in regions including Europe, U.S., Latin America and Africa, while Toonz will access its relationships in Asia and Pacific territories on behalf of Imira.