Ex-CEO buys Angry Birds TV studio

Angry Birds owner Rovio Entertainment has sold its Vancouver studio to its former CEO, Mikael Hed.

The undisclosed financial agreement hands Hed (pictured, below right) control of the animation studio plus some non-Angry Birds properties from the Rovio stable.

The lucrative Angry Birds franchise remains with Rovio, however.

Hed has formed Kaiken Entertainment to house the assets, and will run the company as executive chairman.

The business has also has offices in LA and Helsinki, and counts Laura Nevanlinna, Ulla Junell and Joonas Rissanen are also co-founders.

Nevanlinna is head of franchise and portfolio development and CEO of Kaiken of Kaiken Publishing, Junell is head of animation and president of Kaiken Canada, and Rissanen is creative director.

Former Rovio, Aardman and DreamWorks executive Steve Pegram and Tommy Korpinen , Rovio’s president of animation, have both joined Kaiken’s advisory board.

“This team has been integral in building the hugely successful franchise around Angry Birds,” said Hed. “With this amazing team of experts and storytellers, we are thrilled to be pursuing the next big hit.”

For Rovio, which has made its name from the Angry Birds mobile apps and resultant TV and online series, the sale is part of an ongoing reorganisation of the animation unit.