The Italian entertainment firm headed by Iginio Straffi, known for producing the popular “Winx Club” animated series, has revealed a collaboration with a band of Italian financial backers. This team is contributing approximately €90 million ($92 million) in cash to the company.
According to the agreement, TEC Movie (a division belonging to Mediobanca’s Equity Club, a prominent Italian investment group) will own approximately 40% of Rainbow.
In my perspective, this agreement signifies a tactical step I admire, taken by Rainbow, aiming to strengthen their status as a prominent Italian television production and animation company, all while preparing for potential expansion on a global scale. (Rainbow’s statement)
Rainbow Group aims to strengthen its global dominance by pursuing strategic acquisitions, focusing on intellectual properties and companies in Italy as well as globally, which align with their operations.
In 1995, Straffi founded Rainbow, a company that grew to be Italy’s foremost animation studio and can rival Hollywood. His “Winx Club” series about six stylish fairies enchanted tween girls in over 150 countries, earning billions. In 2015, Rainbow acquired Bardel Entertainment, an animation studio based in Vancouver, and in 2017, it took over Italy’s Iven Group consisting of production company Colorado Film and talent agency Moviement. Since then, Colorado has produced several popular live-action international movies like the young adult romantic drama “The Tearsmith” and the revenge thriller “My Name Is Vendetta,” both created for Netflix.
With this agreement, we can invest significantly, create fresh programs, and keep showcasing the Italian artistry and innovative ideas embodied in our productions globally,” Straffi stated.
From day one, we’ve been dedicated to making Rainbow a shining example of Italian greatness on the world stage. This commitment involves constant innovation, maintaining top-quality standards, and fostering genuine emotional bonds with our audience,” he explained further.
Filippo Penatti, co-CEO at TEC Movie, expressed his delight about forging a fresh alliance with forward-thinking entrepreneur Iginio Straffi and the entire Rainbow Group. He mentioned that they are in agreement regarding their strategic objectives and the ambitious plan for both organic and acquisitive expansion.
Upcoming ventures in the Rainbow pipeline feature an extravagant live-action series transformation of Hugo Pratt’s “Corto Maltese” comic book series. This globally acclaimed comic book series revolves around its titular character, a daring sea captain who embarks on thrilling journeys across the globe.
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2025-01-14 18:46