CINR meaning in Business ?

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What is Cinar Corporation mean?

Cookie Jar Entertainment Inc. (also known as Cookie Jar Group and originally known as CINAR; renamed as DHX Cookie Jar Inc. from 2012 until 2014, or simply just Cookie Jar) was a Canadian media production and distribution company owned by DHX Media (now WildBrain). The company was first established in 1976 as CINAR Films Inc., a Montreal-based studio that was heavily involved in children's entertainment. The company's business model, which included the licensing of its properties into educational markets, had a significant impact on its success; by 1999, CINAR held CDN$1.5 billion of the overall children's television market.

In the 2000s, CINAR became the subject of multiple business scandals, including accusations that the company had used offshore accounts to transfer money out of the company, had plagiarized the concept of one of its series, and had obfuscated the involvement of U.S. screenwriters in its productions in order to continue receiving Canadian tax credits for domestic productions. Over a decade later, these scandals would result in criminal charges, convictions, and fines for four suspects, which included two executives at the company - co-founder Ronald Weinberg and chief financial officer Hasanain Panju.

CINAR was sold in 2004 for $190 million to a group led by Michael Hirsh, the founder of Nelvana, and changed its name to Cookie Jar Group. In 2008, they agreed to acquire DIC Entertainment, expanding its library. On August 20, 2012, DHX Media announced its intent to acquire Cookie Jar, in a deal that would make DHX the largest independent owner of children's television programming, and by the end of 2014, Cookie Jar was folded into DHX Media.

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Posted on 20 Dec 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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