Disney increases its Jetix shares

Disney has expanded its kids and family media business in Europe by acquiring outstanding shares of Jetix Europe.
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The shares were bought for E11 per share, bringing its ownership of the pan-European kids entertainment company to 96 per cent.

Completion of the deal is expected to take place before the end of the year, at which point Disney intends to obtain ownership of 100 per cent of the shares in the firm.

The acquisition will allow the company to serve its large and growing Jetix audience and distribution partners through improved programming, more targeted branding, more integrated management and implementation of company-wide synergies.

Anne Sweeney, co-chair of Disney Media Networks and president, Disney-ABC Television Group said: “Television continues to be a strong brand builder for Disney around the world and this investment enhances our efforts to reach kids and families.

“By achieving operating efficiencies, we will have additional opportunities to create more family-friendly programming and locally-produced content across Europe.”

In addition, Disney and Jetix intend to seek termination of Jetix's listing on Euronext Amsterdam.

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