Asiasons buys Australian pre-school show from CVC's Nine

The acquisition by Asiasons includes production, licensing, touring and merchandising rights for the brand. The investment was channeled via the consumer and resource business-focused Dragonrider Opportunity Fund II, which concentrates on opportunities in emerging East Asia.

"Hi-5 is well known for entertaining pre-schoolers by the millions worldwide," said Asiasons Managing Director Datuk Jared Lim. "To ensure that the core values of Hi-5 are upheld and expanded, Asiasons Group has hired an Australian team including Series Producer Julie Greene and General Manager Mel Rogan, who have been with the brand for over seven years and three years respectively."

Hi-5 will continue to maintain its presence in Australia, as well as overseas across Asia, Latin America and the UK. The show consists of a cast of five, Stevie, Casey, Dayen, Lauren and Tim, and is estimated to reach a global audience of a million children in an average week.

The funds generated by Nine Network's sale of its stake in the company will ostensibly be used to restructure its parent company's A$2.7 billion ($2.9 billion) in senior debt, which is due for repayment next February. Other assets put on the block by the media group in recent months include its ticketing arm, Ticketek, and its magazine business, ACP.

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• Topics
• Australasia
• Media
• Buyouts
• buyout
• Australia
• CVC Capital Partners
• Media