Information  X 
Enter a valid email address

DIC Entertainment (DEKE)

  Print      Mail a friend

Tuesday 03 April, 2007

DIC Entertainment

Creation of KidsCo

DIC Entertainment Holdings, Inc.
03 April 2007



                        DIC Entertainment Holdings, Inc.

                               Creation of KidsCo

        Creation of new 24/7 International Children's television channel
                                        
 Children's specialists DIC and Nelvana partner with international broadcaster
                                  Sparrowhawk


(London Tuesday April 3, 2007) DIC Entertainment ('DIC'), a leading global brand
management company listed on the AIM market in London, today announces its
participation in the creation of 'KidsCo,' a new international children's
television channel.

DIC's partners in KidsCo are David Elstein's Sparrowhawk Media Group, which owns
the international Hallmark Channels outside of the US, and Canadian-based media
group Corus Entertainment, owner of major children's programme maker Nelvana.

Each party will own a third of the new channel, which will launch in autumn 2007
in Central and Eastern Europe. It is planned to reach approximately 40 countries
in Europe, Latin America and Asia Pacific by 2009. The channel will be
distributed using Sparrowhawk's broadcast facility in Denver and the company's
international network of affiliates.

KidsCo, a 24/7 multi-platform channel, will have access to nearly 6,000 half
hours of children's entertainment, one of the biggest programme resources in the
world, through the combined catalogues of DIC and Nelvana.

The new channel will feature a mix of both companies' catalogues including
ever-green favourites such as Inspector Gadget, Babar, Strawberry Shortcake,
Franklin, Dennis The Menace, Adventures of Tintin, Rolie Polie Olie, Maggie and
the Ferocious Beast, Madeline, and more. As well as commissioning new content
from DIC and Nelvana, KidsCo will license programming from third party
children's content suppliers. Programming will be localised market by market.

DIC will invest approximately $4 million over two years in the enterprise, with
a first year share of losses expected to be around $2 million. The channel is
expected to be earnings enhancing by the end of year three.


Jeffrey Edell, President said,

'This is a tremendously important strategic initiative for DIC. The DIC and
Nelvana catalogues, added to the highly experienced broadcasting and commercial
skills of Sparrrowhawk is a compelling and powerful triumvirate. KidsCo gives
DIC a great platform for our brands outside of the US, ideally complementing our
existing US broadcast exposure. The Board is confident that this investment will
provide a significant boost to earnings in the medium-term.'


David Hulbert, Sparrowhawk Media's Chief Executive said,

'The combined experience within the KidsCo organisation has enabled us to
develop this concept based on an innovative business model from which we all
benefit. Sparrowhawk's global commercial and technical distribution networks
manage the successful operation of the Hallmark Channel across more than 150
countries. It is this unique combination of assets that enable us to deliver
KidsCo in an environment designed to reassure parents, at a price that platforms
will find very refreshing.'



For further information please contact:
Jeffrey Edell, President                          Tel: +1 818-955-5400
Simon Forrest, Investor Relations                 Tel: +44 (0) 7885 317746
Craig Breheny / Ash Spiegelberg, Brunswick        Tel: +44 (0) 20 7404 5959






Notes to editors

1. DIC Entertainment (AIM: DEKEq.L), a fully-integrated global brand
   management company, is dedicated to creating, developing, producing,
   distributing, marketing and merchandising family-based intellectual properties.
   The Company serves as the worldwide licensor for brands such as McDonald's,
   Strawberry Shortcake, and Classic Trolls. DIC has become an industry leader in
   developing quality content for kids with an extensive library of 2,900
   half-hours of animated programming, including 'Horseland,' 'Strawberry
   Shortcake,' 'Liberty's Kids,' 'Madeline,' 'Care Bears' and 'Where On Earth Is
   Carmen Sandiego?' In 2006, DIC and AOL's kids' online destination 'KOL' launched
   the new branded kids' programming block, 'KOL's Secret Slumber Party on CBS.' As
   a pre-eminent supplier of kid's programming worldwide, DIC has developed
   strategic partnerships with key broadcast partners throughout North America,
   Europe, Asia, Latin America, Africa and Australia. DIC recently announced the
   acquisition of Copyright Promotions, a Pan-European licensing agency that
   represents the licensing rights of a broad portfolio of world-renowned companies
   including DreamWorks Animation, MGM, Marvel, Sony, Twentieth Century Fox, Viacom
   and The Football Association. DIC is headquartered in Burbank, California with
   offices in New York, Paris, Amsterdam, and London. (www.dicentertainment.com)

2. Sparrowhawk Media Group is a group of media companies operating
   television channel broadcast and programme distribution businesses worldwide.
   The group is chaired by David Elstein with David Hulbert as Chief Executive.
   Backed by Providence Equity Partners and 3i, Sparrowhawk owns and broadcasts
   the international (non-US) versions of the Hallmark Channel, movies 24 and
   'KidsCo'. The 18 feeds for the international Hallmark Channel air across 152
   countries to more than 60 million subscribers in the UK, Europe, the Middle
   East, Africa, Australia, Latin America and Asia.  Movies 24 has recently
   launched on Sky and Virgin TV in the UK and will be rolled out internationally
   in the near future. Sparrowhawk also owns a state-of-the-art broadcast facility
   in Denver, Colorado, which provides transmission facilities for both the
   Sparrowhawk and third party channels operating as Sparrowhawk Broadcast
   Services. Sparrowhawk's programme distribution business owns the international
   rights to more than 580 mini series /TV movie dramas in the Sparrowhawk
   Distribution Library (formerly the Crown Media/ Hallmark Library) and also
   incorporates Sparrowhawk's mobile video messaging business TxtBIG! 
   (www.sparrowhawkmedia.com).

3. Corus Entertainment Inc., a Canadian-based media and entertainment
   company. Corus is a market leader in specialty television and radio with
   additional assets in pay television, advertising and digital audio services,
   television broadcasting, children's book publishing and children's animation.
   The company's multimedia entertainment brands include YTV, Treehouse, W Network,
   Movie Central, Nelvana, Kids Can Press and radio stations including CKNW, CKOI
   and Q107. Corus creates engaging branded entertainment experiences for its
   audiences across multiple platforms. A publicly traded company, Corus is listed
   on the Toronto (CJR.B) and New York (CJR) exchanges. Experience Corus on the web
   at www.corusent.com.





This announcement is not for publication, release or distribution, directly or
indirectly, in, into or from the United States of America, Canada, Australia,
New Zealand, the Republic of Ireland, South Africa or Japan or their respective
territories or possessions.


This announcement does not constitute or form part of an offer for sale or
subscription of, or any solicitation of an offer to purchase or subscribe for,
securities and any purchase of or subscription or application for shares
('Common Shares'). The price and value of, and income from, shares may go down
as well as up. Persons needing advice should consult a professional adviser.


The securities referred to herein have not been registered in any jurisdiction,
and, in particular, will not be registered under the U.S. Securities Act of
1933, as amended, or any applicable state securities laws and may not be offered
or sold in the United States absent registration or an applicable exemption from
such registration requirements.


Information contained in this announcement may include 'forward looking
statements'. All statements other than statements of historical facts included
herein, including, without limitation, those regarding the company's financial
position, business strategy, plans and objectives of management for future
operations (including development plans and objectives relating to the company's
business) are forward- looking statements.


Such forward-looking statements are based on a number of assumptions regarding
the company's present and future business strategies and the environment in
which the company expects to operate in the future. These forward-looking
statements speak only as to the date of this announcement and cannot be relied
upon as a guide to future performance. The company expressly disclaims any
obligation or undertaking to disseminate any updates or revisions to any
forward-looking statements contained in this announcement to reflect any changes
in its expectations with regard thereto or any change in events, conditions or
circumstances on which any statement is based.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
                                  

a d v e r t i s e m e n t