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CPLG to buy 49% stake in Russian licensing agency

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CPLG to buy 49% stake in Russian licensing agency

CPLG agreed to buy a 49% stake in Pullman Licensing LLC, a Russian licensing agency owned by Igor Kuleshov, president and owner of Gulliver Holdings.

CPLG and Pullman are expected to team up for overall management and operations of the new venture, to be called CPLG Pullman. Pullman will maintain the existing staff in their Moscow office and look to expand the existing portfolio of rights.

The new venture will also represent certain of CPLG's portfolio, including "Line Friends" and "Archie Comics." Pullman's current portfolio includes Viacom Inc.'s Nickelodeon and Paramount, ROI Visual and Emoji across Russia, the Commonwealth of Independent States, and the Baltics.

The deal is expected to complete on or about Oct. 30, subject to customary closing conditions and the execution of certain ancillary agreements.

CPLG, which is an entertainment, sport and brand licensing agency is owned by DHX Media Ltd.. Gulliver Holdings is a Russian toy and clothing manufacturer and distributor.