Paramount’s Nickelodeon Acquires Animated ‘Mr. Crocodile’ Series Based On French Classic: Retail’s Still Bearish
Synopsis
In partnership with France Télévisions and production house Magical Society, the series will be distributed globally through Mediawan Kids & Family.
Nickelodeon, part of Paramount Global’s (PARA) entertainment brands, has acquired the Mr. Crocodile animated series, adapted from the popular French children's book Monsieur Crocodile a Beaucoup Faim.
In partnership with France Télévisions and production house Magical Society, the series will be distributed globally through Mediawan Kids & Family.
Viewers can expect to see the show roll out on Nick Jr. networks worldwide, as well as through France Télévisions in the domestic French market.
The financial details of the acquisition were not disclosed.
"Nickelodeon is continuing the legacy of beloved kids' stories with the acquisition of Mr. Crocodile," said Senior Vice President, Global Acquisitions and Content Partnerships, Nickelodeon, Layla Lewis.
Nickelodeon’s operations span television content and production both domestically and internationally, as well as ventures in consumer merchandise, digital platforms, themed attractions, publishing, and theatrical films.
Nickelodeon's parent, Paramount, had recently launched a review and evaluation of strategic alternatives to maximize shareholder value.
Paramount has been seeking federal approval for a proposed merger with Skydance Media.
The merger has sparked scrutiny from regulatory bodies, notably the Federal Communications Commission (FCC), which has raised concerns about the organization’s approach to newsroom ethics and its initiatives surrounding corporate diversity.
The media conglomerate recorded upbeat revenues in its latest quarterly results, albeit with an annual decline. First-quarter (Q1) revenue fell 6% year-on-year to $7.192 billion, but surpassed the analysts’ consensus estimate of $7.10 billion, as per Finchat data. Subscribers increased by 1.5 million to 79 million in Q1.
On Stocktwits, retail sentiment around Paramount remained in ‘bearish’ territory.
Paramount stock has gained 14% year-to-date and lost over 1% in the last 12 months.
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