Two animation distribution powerhouses combine as CAKE completes its acquisition of assets from Jetpack Distribution, more than doubling the size of its children’s & family television content library to 3,200 half-hours. The deal was announced last month after several weeks of negotiations, guided by the close relationship between Jetpack founder Dominic Gardiner and CAKE CEO Ed Galton.
Indie distributor Jetpack, impacted by the rocky kids’ TV market, liquidated on August 21 according to Companies House. “The marketplace changing accelerated some conversations. Globally, entertainment has been challenged, and we are reacting to that by making Cake-Jetpack a bigger organization,” Galton told Deadline.
In addition to bringing globally popular animation titles including Dennis and Gnasher Unleashed, Talking Tom and Friends, Moley, The Clangers and Mechamato into CAKE’s catalog (which already includes Angry Birds, Total Drama Island, Kiri & Lou and much more), the acquisition will lead to a restructure of the London-based kids’ content player.
Jetpack’s Gardiner and sales executive Toby Jones will join CAKE as the heads of its expanded distribution operations as Managing Director of Distribution (reporting to Galton and CFO/COO Cat Seddon) and Senior Sales Director (reporting to Gardiner, alongside CAKE’s current Sales Director Juliet Farcat), respectively.
Galton will continue to oversee CAKE Distribution, CAKE Production, Popcorn Digital and Kickstart Production. Galton told the trade that Gardiner’s leadership over the distribution business will free him up to focus on other areas, in particular production activities.
The company is working out how the Jetpack brand will continue within CAKE, and Galton says that both company names will be on the CAKE stand at MIPCOM.
CAKE’s Seddon worked with Charles Whelan of Polestar CF to close the acquisition, with GBH Law advising.
[Source: Deadline]
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