Riva Studios Gets Paris Court Approval to Purchase French Indie Animation Outfit TeamTO
variety.comJamie Lang Italian animation producer Riva Studios has finalized its acquisition of leading French indie TeamTO after receiving final approval from the Tribunal de Commerce de Paris.
Led by Riva Studios executives Marco Balsamo, Jay Oliva, and Tara Sibel Demren, the acquisition will prevent TeamTO from having to declare bankruptcy and allow the company to move into its 20th year of operation in 2025.
TeamTO is the company behind the popular Children’s & Family Emmy-winning Netflix series “City of Ghosts” and other outstanding kids’ programming, including “PJ Masks” and “Elena of Avalor,” to name a few.
In 2018, when the company was producing seven to eight titles per year, they started work on a new state-of-the-art studio that would allow the company to increase to as many as 12 productions per year.
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