Entertainment One acquires 70% stake in Astley Baker Davies

The series was created by Astley Baker Davies (ABD), the British animation studio behind the popular preschool brand Peppa Pig that was bought out by eOne yesterday.

Neville Astley and Mark Baker, later joined by Phil Davies have produced more than a hundred episodes since 1994. This was offset by strong growth in the TV business on the back of Peppa Pig sales.

The company stated that it will use a rights issue to raise $293.3 million to fund the deal and related expenses, the Hollywood Reporter mentions.

Media corporation Entertainment One Ltd. or eOne (ETO.L) Wednesday said that it expects overall earnings performance in the first half of the financial year to be in line with management expectations.

Peppa Pig co-owner Entertainment One is to take control of United Kingdom producer Astley Baker Davies, the creator of the hit cartoon character, in a deal worth £140m. Now they will get £47 million each from the deal and will still have 5 percent from the royalties of the franchise that gets most of it income from DVDs, toys and clothing. “Peppa Pig has emerged as a worldwide phenomenon and reflects the success of our 10-year partnership working with the creative genius of Mark, Nev and Phil”, said Entertainment One president and CEO Darren Throop.

EOne sees the opportunity for major growth for ABD by pushing “Peppa Pig” into new markets and continued expansion in the USA, as well as the increased exploitation of licensing and merchandising. The show has aired in over 180 territories, including Channel 5 in the United Kingdom and NickJr in the US.