Rainbow Group, a Loreto (AN)Italy-based kids animation and consumer products company, has received a minority investment of undisclosed amount from Viacom Inc. (NYSE: VIA, VIA.B).
Founded in 1995 by President Iginio Straffi, Rainbow produces animated television series and movies targeting children. The company creates content for all kinds of media, including TV series, movies, events, the internet, DVDs, magazines, toys, video games, and all product categories subject to licensing.
Last year, Viacom’s Nickelodeon signed a global content-based partnership with Rainbow around the franchise Winx Club. As part of the agreement, Nickelodeon secured TV rights for Winx Club in the U.S. and pay-TV rights for Latin America, Canada, United Kingdom, Australia, New Zealand and Benelux as well as all merchandising distribution rights to Winx Club in these regions.
Additionally, the partnership includes the co-development and co-production of seasons five and six of the series and gives Nickelodeon access to the existing Winx Club TV series and two theatrical films.