Canadian animation studio Rainmaker Entertainment has acquired the New York-based digital animation studio, Frederator Networks to create WOW! Unlimited Media.
Fred Seibert’s Frederator Networks has produced series for Nickelodeon and Cartoon Network. The deal aims at combining Frederator’s digital animation networks, including the Channel Frederator multi-channel network on YouTube, with Rainmaker’s Vancouver-based animation studio to create and distribute kids and animation content across all media platforms.
Frederator founder Seibert will become chief creative officer and the largest shareholder of WOW!, with Nelvana and Cookie Jar Entertainment, founder, Michael Hirsh taking the helm as chairman and CEO.
Seibert said, “Frederator’s goal of pursuing world-class talent will be increased exponentially by creating WOW! Unlimited with Michael Hirsh and his team, and Rainmaker Entertainment.”
Rainmaker also is acquiring kids and youth content producer Ezrin Hirsh Entertainment, founded by Hirsh and Bob Ezrin, the veteran music producer (Pink Floyd, Alice Cooper, Lou Reed), who becomes vice-chairman. WOW! will be capitalised in part by an underwritten private placement with proceeds of around $11 million.
