Banijay Rights Ltd. acquired Funwood Media to boost its distribution, production and licensing capabilities across Europe.

The transaction also includes Funwood Media Italia Srl and Funwood Media Ibérica. The financial details of the deal were not disclosed.

Funwood, a production and distribution company, mainly operates in Italy and Spain and works with a number of media companies, such as Rai, Sky Ltd., Discovery Inc., Paramount Pictures Corp., Turner Broadcasting System Inc., TVE, Mediaset SpA, A3 Media, Metro-Goldwyn-Mayer Inc. and Telefónica SA's Movistar+. Funwood also recently teamed up with France's Groupe M6.

Banijay Rights CEO Tim Mutimer and Funwood Media founder Aldo Spagnoli will work together to capitalize on Banijay Rights' experience in the region.

Banijay Group SAS owns Banijay Rights, which is based in the U.K.