MUMBAI: Walt Disney Co has entered into an agreement with Jetix Europe N.V. to boost its holding in the pan-European kid’s entertainment company to 96 per cent, at a price of $14.15 per share.
The agreement is an attempt to expand Walt Disney’s kids and family media business in Europe. Jetix Europe’s specialisation deals with TV channels, program distribution, and consumer products.
Post the completion of the transaction, which is expected to close before the end of 2008, Disney plans to obtain 100 per cent of the shares in the company. Disney previously held a majority share in Jetix.
The Jetix audience and distribution partners would be better served “through improved programming, more targeted branding, more integrated management, and implementation of company-wide synergies.”
"Television continues to be a strong brand builder for Disney around the world and this investment enhances our efforts to reach kids and families. By achieving operating efficiencies, we will have additional opportunities to create more family-friendly programming and locally-produced content across Europe," Disney Media Networks co-chair and Disney-ABC Television Group president Anne Sweeney said.
Disney acquired its original interest in Jetix Europe (formerly Fox Kids Europe) when it procured Fox Family Worldwide from News Corp. in 2001.
