The End of an Era for Canadian Children's Television
WildBrain Ltd. has announced the definitive closure of its television channels in Canada 📺, including iconic signals such as Family Channel, Family Jr., WildBrainTV, and Télémagino. This decision comes after failing to renew distribution agreements with giants Rogers and Bell. As a result, the company will cancel the majority sale of 66% of these channels to IoM Media Ventures and return the licenses to the CRTC.
The Perfect Storm That Led to the Closure
The final outcome came after the CRTC determined that WildBrain was not at a disadvantage with Rogers, who ultimately did not renew the contract either. Added to the fact that Bell had already removed the channels from its lineup, the company concluded that the channels were no longer commercially viable 💸. This situation forced the abandonment of the sale to IoM Media Ventures, an agreement that would have transferred majority control of the channels.
Strategic Restructuring and New Focus
WildBrain is not limiting itself to the closure, but is moving toward a deep restructuring. The company plans to:
- Definitely relinquish the broadcasting licenses
- Simplify its share structure to a single class
- Free itself from the restrictions of the Canadian Broadcasting Act
- Focus on streaming, licensing, and multi-platform content
This strategic move gives the company greater flexibility to adapt to the current digital market.
The Future According to WildBrain's Leadership
Josh Scherba, CEO of WildBrain, acknowledged that these channels represented a large part of the company's nearly four-decade history. Despite being an unfortunate closure, the impact is minimal on the company's global business. According to Scherba, its greatest strength currently lies in content creation, management of iconic franchises, and digital distribution 🌐.
Our greatest strength lies in content creation, management of iconic franchises, and digital distribution
The company also reports a 17% year-over-year growth up to the third fiscal quarter, demonstrating that its future is far from traditional television. Meanwhile, a generation of Canadians bids farewell to their televised childhood... all in the name of digital progress 😅.