Viacom Invests in Rainbow Group
NEW YORK, Feb. 4, 2011 /PRNewswire/ -- Viacom Inc. (NYSE: VIA, VIA.B) today announced that it has acquired a minority interest in Rainbow Group, a privately-owned kids animation and consumer products company based in Italy. Rainbow produces animated television series and movies targeting children and it licenses merchandising rights based on its animation properties across a number of consumer products categories.
Financial terms of the deal were not disclosed.
Last year, Viacom's Nickelodeon announced a global content-based partnership with Rainbow around the hit franchise Winx Club. As part of the agreement, Nickelodeon secured TV rights for Winx Club in the U.S. and pay-TV rights for Latin America, Canada, United Kingdom, Australia, New Zealand and Benelux as well as all merchandising distribution rights to Winx Club in these regions. Additionally, the partnership includes the co-development and co-production of seasons five and six of the series and gives Nickelodeon access to the existing Winx Club TV series and two theatrical films.
Viacom is home to the world's premier entertainment brands. Through its BET Networks, MTV Networks and Paramount Pictures divisions, Viacom connects with audiences through compelling content across television, motion picture, online and mobile platforms in more than 160 countries and territories. With approximately 170 media networks reaching more than 600 million global subscribers, Viacom's leading brands include MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick Jr., TeenNick, Nicktoons, Nick at Nite, COMEDY CENTRAL, TV Land, Spike TV and Tr3s. Paramount Pictures, America's oldest film studio and creator of many of the most beloved motion pictures, continues today as a major global producer and distributor of filmed entertainment. Viacom operates more than 500 branded digital media properties, including several of the world's most popular destinations for entertainment, community and casual online gaming.
For more information about Viacom and its businesses, visit www.viacom.com.
SOURCE Viacom Inc.