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Planeta Junior Acquires Stake in ‘Miraculous’ Producer ZAG Entertainment (EXCLUSIVE)
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variety.comElsa Keslassy International CorrespondentSpain-based leading European kids producer Planeta Junior has acquired a stake in ZAG Entertainment, the banner behind the popular “Miraculous” franchise.The deal, which marks a new step in the long-lasting relationship between both companies, is estimated at €300 million ($353 million), according to a source close to the pact.
The amount of the stake acquired by the Spanish group was not disclosed, but the source said the pact gives Planeta Junior the possibility of increasing its stake progressively over the next four years for up to 49% of ZAG Entertainment.The two companies will also be joining forces on the production of TV content and films, kicking off with a $70 million budget animated.
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