David Michel is buying back Cottonwood Media from Federation Studios, the company he founded in 2014. The deal ends 11 years of ownership by Federation, with Michel and partners Cécile Laurenson and Zoé Carrera Allaix taking full control again.
Michel served as the former Zodiak Kids boss before starting Cottonwood. The company is best known for Find Me in Paris, The Lady Grace Mysteries and Spellbound. Its catalog stands at more than 120 hours of programming across 13 international series.
The Buyback Details
Michel is purchasing Federation’s entire share of Cottonwood. Federation International will keep handling the distributor role for the producer’s library, including the three named shows. The distributor will also hold a first look at future Cottonwood projects.
Michel was one of Federation’s co-founders, alongside Pascal Breton and Lionel Uzan, and ran kids and family content for the company.
Why Michel Is Leaving
Cottonwood’s exit from Federation comes as the YA market heats up. The company plans to push harder on a creative strategy aimed at the 16-25 and 18-29 age brackets. The timing fits a moment when youth-oriented content is gaining renewed attention across the industry.
“The opportunity arose for us to buy back Federation’s stake in Cottonwood,” Michel, Laurenson and Carrera Allaix said in a statement today. “This will help us continue our next phase of growth while being more agile. Also with the recent industry revival of YA content and our desire to expand our offerings, we felt the timing was right. We continue to maintain excellent relations and a strong bond with our friends at Federation, particularly with regard to the distribution of our past productions.”
Breton and Uzan wished Cottonwood “all the very best,” adding: “Cottonwood has produced some magnificent international hits over the years at Federation, and we look forward to continuing our collaboration on distribution.”
What Stays With Federation
The distribution arrangement stays in place. Federation International will continue distributing Cottonwood’s existing catalog, and the first look deal gives the distributor early sight of new projects the company develops.
That arrangement means Cottonwood’s older work remains tied to Federation even as its new work moves forward independently.
The Federation Situation
Federation’s leadership appointed Morgan Stanley last January to explore options. No buyer has emerged since, and the search appears to have cooled. The company’s future remains unclear.
We’ve approached Federation today for comment, and await a response.
The French Environment
We’re hearing increasing numbers of sources talk about an incredibly tough business environment for French television companies. With MIPCOM Cannes coming up in just over a week, chatter could intensify as the picture becomes clearer.
Key Numbers
- Stake transfer: David Michel buys back Federation’s entire stake in Cottonwood Media
- Years in Federation fold: 11
- Catalog size: More than 120 hours of programming, 13 international series
- Notable shows: Find Me in Paris, The Lady Grace Mysteries, Spellbound
- Distribution: Federation International remains distributor of Cottonwood’s catalog
- First look: Federation holds first look at future Cottonwood projects
Timeline
| Event | Date |
|---|---|
| Cottonwood joins Federation (as Federation Entertainment) | 2015 |
| Michel buys back Federation’s stake | Now |
| MIPCOM Cannes | Coming up in just over a week |
Our Take On It
The deal preserves the relationship with Federation through distribution, even as Cottonwood regains full independence.
The timing is telling. Michel cites the YA content revival as the reason to act now, and the company’s pivot toward youth programming suggests it sees demand moving in that direction.
Everyone involved signed off on this — Michel, Laurenson, Carrera Allaix, Breton and Uzan — which reads as agreement on the arrangement.
For now, Michel has his own company back. The arrangement leaves him free to pursue new creative directions while Federation continues to handle the distribution of the company’s existing catalog.
Source material: “David Michel Buys Cottonwood Media Out Of Federation Studios,” Deadline.
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