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Spanish firm buys slice of Cake

MIPTV: London-based children’s entertainment company Cake has been acquired to the tune of 51% by a Spanish company, it was announced here in Cannes.

Zinkia Entertainment has bought the majority stake in the UK company “to bolster content brand management and distribution opportunities,” it said. A Zinkia rep told C21 that there would be no job losses resulting from the deal, just “more synergies.”

The move sees both companies keeping their own management and identities, Zinkia added. The deal brings together Cake’s Poppy Cat and Angelo Rules brands with Zinkia’s global hit Pocooyo and latest property Mola Noguru.

Furthermore, Cake may handle distribution for some of Zinkia’s programmes, either new shows or Pocoyo for territories handled by Zinkia. And Cake hopes to use some of Zinkia’s skills in brand-building and digital strategies to boost brand visibility of some of its programmes, the Zinkia rep added.

“This strategic alliance with Cake is an important development in our plans to build, develop and manage a top-tier slate of kids and family entertainment properties for the global market,” said Zinkia president José María Castillejo.

Cake CEO and creative director Tom van Waveren added: “Our respective skills are very complementary and we feel we will be able to significantly contribute to each others success stories.”

No financial details for the deal were given.

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