Mediawan, the European special-purposed acquisition company is having exclusive talks to acquire a majority stake in the French production company ON kids & Family.
The agreement would see Mediawan scoop up a portion of the company’s shares while also subscribing to a reserved capital increase to take a majority stake of between 51 and 55 per cent respectively in ON kids & family.
The deal, reportedly estimated to be in the range of US$117 million would see Mediawan acquire shares held by minority shareholders for approximately US$35 to US$41 million and inject a US$17-million capital increase into ON kids & family.
Mediawan was formed by Pierre-Antoine Capton, Xavier Niel and Matthieu Pigasse. According to Capton, this move will accelerate the company’s development strategy in the production of premium content.
ON kids & family was co-founded by Aton Soumache and Dimitri Rassam. The animation studio’s work can be seen in The Little Prince, Miraculous, Little Nick and Seven & me.
Under the proposed agreement, Soumache and Rassam, along with ON kids & family’s main shareholders, will partner with Mediawan.
The Little Prince was released in more than 120 countries in 2015 and 2016 with a box office return of US$120 million.
ON kids & family comprises of five studios (in Paris, Montreal, Luxembourg, L.A. and India) and through its ON Animation Studios entity, the company is currently producing a Playmobil animated film due for global release in April 2019.
Earlier this year, Mediawan acquired French production, channels and distribution player Groupe AB, as well as French production company CC&C, which is a key player in the documentary segment.