Spain-based post-production firm Squirrel Media has signed a binding Letter of Intent to accumulate 74.24% of Mondo TV Studios shares from its Italian guardian firm Mondo TV S.p.A. The doc consists of Squirrel’s intention to accumulate as much as 100% of the shares by one or a number of non-monetary capital will increase. Mondo TV is without doubt one of the largest European producers and distributors of animated content material.
Squirrel president Pablo Pereiro Lage states that the acquisition “will consolidate our management within the creation and distribution of content material in Spanish, Portuguese and Italian.”
Based on the incorporation settlement, Mondo TV Studios will be part of the group’s content material enterprise section, creating a brand new animation funnel to provide and distribute new IPs in addition to provide animation providers as a recurring exercise provide.
“The acquisition of Mondo TV Studios, with its animation studio and its catalog, is deeply useful for our progress technique, since it can imply including to the group one of many largest European producers and distributors of animation content material,” provides Lage.
The approaching integration of each studios will permit Squirrel to turn into a part of a multinational communication know-how group that works globally by promoting, media, content material (creation and distribution of audiovisual content material) and know-how (TMT providers).
Maria Bonaria Fois, CEO of Mondo TV Studios, added, “The combination of Mondo TV Studios right into a Group with exponential progress projections corresponding to Squirrel Media represents the consolidation of our efficiency to strengthen the strategic progress of our firm. We thank Mondo TV Group for supporting us all through all these years and permitting us to succeed in today. At the moment we’re happy with our achievements and excited for all that’s to return. We are going to proceed to work laborious on our conventional enterprise traces, exploring synergies with the opposite Squirrel Media firms, in addition to attracting worldwide animation providers and persevering with to develop IPs that add worth.”
Mondo TV Studios will keep its model, organizational chart, and administration framework, sp that tasks could proceed beneath the identical management.
Supply: Mondo TV
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