Germany's Igel Media and Italy’s Mondo TV Group have signed an agreement for Mondo TV’s acquisition of 30.3% of Igel Media’s capital share.
Under the deal, Rome-based Mondo TV will own 1m Igel Media shares. The agreement is contingent upon the approval of Igel Media’s supervisory board.
As part of their new strategic alliance, Igel Media and Mondo TV plan to work together to promote the growth of each company into new regions.
On top of the share deal, a commercial agreement has been signed in which Igel Media will take over Mondo TV’s European distribution of over 300 hours of animated productions for all territories except Italy.
Titles included in the deal include Jesus, The Kingdom Without Frontiers, The Super Heroes and Lupo Alberto.
The move also sees Mondo TV conceding free-TV and video licences to 18 cartoon series, totalling 613 episodes.
Mondo TV has a library of approximately 730 episodes of animation created and owned by the group as well as distribution rights to over 5,000 episodes of animated programming from Doro TV Merchandising, a subsidiary in which it holds a 100% interest.