Fred Seibert’s New York-based Frederator Network has been acquired by Canadian animation studio Rainmaker Entertainment (Escape from Planet Earth) in a share purchase deal, forming WOW! Unlimited Media. Further, Rainmaker is buying kids’ content producer Ezrin Hirsh Entertainment, founded by veteran animation executive Michael Hirsh and music producer Bob Ezrin.
The transactions will see the elimination of all of Rainmaker’s convertible debentures, with $11.6 million of it converted into equity for the new venture.
These deals will see animation producer Seibert (Adventure Time, The Fairly OddParents) instated as Chief Creative Officer and the largest shareholder of WOW!, with Hirsh (founder of Nelvana and Cookie Jar) serving as CEO and Chairman of the Board. Ezrin, who has produced for Lou Reed, Pink Floyd and Alice Cooper, will be Vice Chairman.
The WOW! leadership is rounded out by President and COO Neil Chakravarti, CFO Bryant Pike, and Michael Hefferon, who will become Executive Vice President at WOW! while continuing in his role as President of Rainmaker Studio.
The acquisition of Frederator by Rainmaker unites the world’s top digital animation network — which includes the Channel Frederator family — with a fully integrated animation studio, allowing the new business to leverage Frederator’s established audience and creator base as well as Rainmaker’s production capabilities. WOW! will develop, create and distribute animation and children’s content across multiple platforms including VOD, mobile and linear channels.
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