Wednesday, January 25, 2023

Rainbow S.p.A. Reportedly Buys Back Paramount's Stake

In 2011, Paramount Global (then Viacom) acquired a 30% stake in Rainbow S.p.A., the Italian production company behind hit shows such as the animated series Winx Club and Nickelodeon Latin America's live-action Club 57, however, in a new interview, Iginio Straffi, the founder of Rainbow S.p.A. who owns the other 70% of the studio, has hinted that he may be looking to acquire back Paramount's 30% stake.

When asked by E-DUESSE.IT on whether he'd be open to letting other international companies acquire stakes in the company, Straffi said: "Right now I would be more inclined to buy back the shares of Paramount Global, rather than open the share capital to other foreign companies. The partnership with this studio was certainly more beneficial ten years ago, when Nickelodeon -- controlled by Paramount -- was our first client and business partner. Today we work much more with streaming platforms and other studios."

Update (1/25/23) - Rainbow S.p.A. has reportedly bought back Paramount Global's 30% stake in the company.

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Originally published: September 13, 2022.

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