Riva Studios Buys Troubled French Studio TeamTO
Italy’s Riva Studios has won a “highly-competitive” auction for TeamTO, saving the iconic French animation studio from bankruptcy. The price was €2.6M ($2.7M) court filings have shown. The acquisition was approved by the Tribunal de Commerce de Paris today, with Riva’s executive team Marco Balsamo, Jay Oliva, and Tara Sibel Demren (pictured) set to lead TeamTO going forwards. TeamTO had run into financial problems earlier this year and was put up for sale before beginning bankruptcy proceedings, with Riva emerging as a late bidder during an auction process as other exited the process. Now the deal is done, TeamTO will continue to operate from Valence and Paris and a “majority” of its staff will be retained, with work continuing on current and upcoming series. The studio is known for making originals such as Jade Armor and Angelo Rules, and for work on shows such as PJ Masks, The Creature Cases and Skylanders Academy. Founders Guillaume Hellouin and Corinne Kouper will continue as executive advisors while also serving as executive producers on current and upcoming projects. “We couldn’t be happier as we know this leadership team will honor our two decades of creative excellence with a visionary plan that will ensure TeamTO’s success for another twenty years and beyond,” said Hellouin. “Under this new direction, we’re not just continuing the studio’s legacy, we’re building a stronger, more ambitious company that’s ready to elevate that standard and redefine what’s possible,” added Riva’s Balsamo. French animation, often touted as among the most lauded globally, as been hit hard in recent years, with the likes of TeamTO and Cyber Group Studios entering administration as the tough economic climate pinches.
Acast Acquires Creative Studio Wonder Media Network
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Indie podcast group Acast has bought Wonder Media Network (WMN), a full-service creative studio to bolster its branded content offer. WMN is a female-founded studio based in New York City founded by journalist Jenny Kaplan and Shira Atkin that has created and produced audio, digital, experimental and social campaigns for the likes of Nike, Pfizer and GE. Its team will combine with Acast’s existing creative team to form Acast Creative Studios. This division will include WMN’s original production arm, which will continue to make podcasts. “This acquisition significantly expands our US operations with the introduction of a highly experienced content studio — in both original and branded, empowering advertisers to create even more impactful campaigns across audio and beyond,” said Acast CEO Ross Adams.
European Pubcasters Elect New EBU Board
The European Broadcasting Union has unveiled a new eleven-member executive board. The organization represents Europe’s pubcasters, collectively selling key sports rights and also organizes events including the Eurovision Song Contest. France Télévisions’ boss Delphine Ernotte Cunci will remain as EBU President. Three new members joined the board: TV Monaco Director General Nathalie Biancolli, Roland Weissmann from ORF in Austria, and Simona Agnes, from Italy’s Rai. The remaining members are existing board appointees who have been re-elected for subsequent terms. The board will serve a two-year term, starting next Jan.
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