News broke a few days back that DreamWorks Animation, the studio behind Shrek and Kung Fu Panda, was planning to purchase Classic Media. Today, it hit the web that the purchase had been made for $155 million, adding the vast Classic Media library to DreamWorks' already vast repertoire.
Classic Media hold the rights to - as well as Rocky and Bullwinkle, the Mr. Pebody and Sherman section of which DreamWorks are already making a film adaptation of - the Entertainment Rights catalogue, including Basil Brush and Postman Pat (big hits over here in the UK); Where's Waldo?/Wally?; He-Man; Felix the Cat; several UPA properties, including Mr. Magoo; Lassie; Casper the Friendly Ghost; Noddy and several more! Basically, Classic Media own a lot of stuff. And now DreamWorks owns it.
So, we can expect - presumably - to see a lot more from these properties coming out of DreamWorks in the next decade or so. Speaking of the transaction and DreamWorks' plans for the properties, CEO Jeffrey Katzenberg said:
"Classic Media brings a large and diverse collection of characters and branded assets that is extremely complementary to DreamWorks Animation's franchise business,
We plan to leverage it across our motion picture, television, home entertainment, consumer products, digital, theme park and live entertainment channels."
It's going to be very interesting to see what comes out of this in the near future.
Via The Telegraph.