Kaiken Entertainment will also serve as the master licensee for the Angry Birds brand in book publishing.

Mikael Hed, former chief executive officer of Rovio Entertainment, has formed a new entertainment company, entitled Kaiken Entertainment.

The new company will initially focus on creating content across films, apps, streaming video and publishing with a broad portfolio of story-based properties. The company will also continue to partner with Rovio on certain projects, including producing Angry Birds content and serving as the master licensee for the Angry Birds brand in book publishing.

Additionally, Kaiken Entertainment has purchased Rovio’s TV animation studio in Vancouver and its book publishing business as well as certain non-Angry Birds properties. The transaction is part of the ongoing re-organization of Rovio’s animation division.

Hed will serve as executive chairman of Kaiken Entertainment. Meanwhile, former Rovio, Aardman and DreamWorks executive Steve Pegram and Rovio’s president of animation, Tommy Korpinen, have joined the company’s advisory board. Hed has also brought on a number of Rovio veterans to help lead the new company.

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