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‘Winx Club’ Creator Rainbow Group Looks to Expand With Multimillion Cash Injection From Investors
Nick Vivarelli International Correspondent Italy’s Rainbow Group, the company led by Iginio Straffi — creator of the hit “Winx Club” animation franchise — has announced a partnership with a group of Italian equity investors that are providing a roughly €90 million ($92 million) cash injection. Under the deal, TEC Movie — which is part of a unit within top Italian merchant bank Mediobanca called the Equity Club — will hold a roughly 40% stake in Rainbow. The deal “marks a strategic move for Rainbow to further consolidate its position as a leading Italian TV production and animation house with a view to future global growth,” according to a Rainbow statement.