Toonz Media Group acquires majority stake in Telegael
Details
Louise Duffy
| 29 May 2019

India's Toonz Media Group has acquired a majority stake in Irish production house Telegael gaining pre- and post-production studios, as well as a live action capacity for its business divisions.

Telegael joins a group with full-scale financing, production, distribution and broadcast offices in ten countries around the globe. Through the Telegael acquisition Toonz Media Group will also increase its in-house development and IP creation business with Telegael’s design and pre-production division, in turn increasing European production, with new titles to be distributed globally by Imira.

In July 2018, Toonz announced the co-production of its new 52x12’ CGI comedy series Mondo Yan, partnering with Telegael, Spanish broadcaster TV3 and Imira Entertainment. Telegael is handling part of the pre-production and all post-production of the series, while Toonz-owned Imira Entertainment is handling its worldwide distribution.

Commenting on the acquisition, Toonz Media Group CEO, P Jayakumar, said: “The addition of proven pre-production and post-production facilities, together with existing distribution capabilities and our globally recognised production expertise, delivers synergistic and customer benefits that exceed the sum of the parts. This new acquisition will enable Toonz to deliver world class end-to-end services to existing and future customers across the globe.”

Telegael CEO Paul Cummins added: “The Toonz deal provides Telegael with exciting opportunities to further grow our IP and service production by becoming part of a dynamic global entertainment group with involvement and expertise in 2D & 3D production, visual FX, global distribution, financing, gaming, licensing and merchandising. The deal offers substantial synergies and the opportunity to be part of a large vertically integrated global entertainment group.”