Nelvana & ole Strike a Chord
Toronto, Canada: Nelvana announces that it has entered into a strategic partnership with Canadian-owned music publisher ole.
Under terms of the six-year deal, ole will administer the global collection and administration of music from Nelvana's programming catalog, including its current library and future productions. The Nelvana library comprises 3,000 half-hours of animated content, the bulk of which is controlled by the company.
"One of our key strategies to unlock shareholder value at Nelvana is to identify ways to monetize our non-core assets--in this case our vast music publishing catalogue," said Doug Murphy, Nelvana's Executive VP of Business Development. "ole's depth of talent and experience will ensure a variety of new approaches to generate revenue from these assets worldwide. In the meantime, we'll reinvest the revenue from this partnership in our core business of building lasting global brands."
Priority properties included in the agreement are Babar, Franklin, Little Bear and Miss Spider's Sunny Patch Friends.
ole will license Nelvana's music content in traditional (compilations, etc.) and emerging (wireless ringtones, downloads, etc.) distribution streams.
According to ole Managing Partner, Robert Ott, "We are thrilled to partner with such a respected and important global producer of quality programming. We appreciate the confidence that Nelvana has in us and look forward to delivering value for Nelvana and developing this important property."
About Nelvana Nelvana Limited is one of the world's leading international producers and distributors of children's programming and products. Its current stable of franchise properties includes Emmy Award(R)-winning and globally renowned brands such as Rolie Polie Olie, Babar, Franklin and Beyblade. Nelvana is owned by Corus Entertainment, a Canadian-based media and entertainment company. Corus is a market leader in both specialty TV and Radio. The company's other interests include music, television broadcasting and advertising services. A publicly traded company, Corus is listed on the Toronto (CJR.NV.B) and New York (CJR) Exchanges. Corus' website can be found at www.corusentertainment.com.
About ole ole is a multi-national, Canadian owned, full-service music publisher. With financing of over $100 million dollars, ole boasts an experienced team of industry professionals involved in acquisitions, creative development and administration. The ole catalog includes over twenty thousand songs across all genres ranging from pop, to country, to urban to rhythm & blues and soul. Recent cuts include the new release Shoes by Shania Twain (Music Inspired by Desperate Housewives) and He's Not Even Cold Yet by Gretchen Wilson. Additionally, ole has concluded publishing agreements with film and television producers Shaftesbury Films, Arcadia Entertainment and Slanted Wheel. The company has signed songwriters Gerald O'Brien, John Wesley Chisholm, Ben Dunk and James Huff and struck a co-venture deal with Last Gang Publishing a division of Last Gang Records. At ole< the goal is to be the home for the best songwriters, composers, management talent and intellectual property investors and the first choice music source for creators in all media. The ole website can be found at www.majorlyindie.com.