![]() (Nasdaq: DWA) today announced that it has entered into an agreement to acquire Classic Media, owner of one of the most extensive portfolios featuring many of the best-known and most-enduring franchises in all of family entertainment, for $155 million in cash from Boomerang Media Holdings I LLC, a portfolio company of Chicago-based private equity firm GTCR.Ĭlassic Media’s library of intellectual property, which is focused on family characters and brands, features a vast collection of filmed entertainment with over 450 titles and more than 6,100 episodes of animated and live-action programming. Glendale, CA – J– DreamWorks Animation SKG, Inc. ![]() Peabody & Sherman is scheduled to be released on Christmas Day 2013. Here’s DreamWorks Animation’s release: “Several previous attempts to re-launch these characters (Speedracer, Rocky & Bullwinkle, Underdog, etc.) were large disappointments.” DWA’s animated film Mr. “The success of the deal will depend in part on how these older characters (many date back to the 1950s) resonate with today’s younger audiences,” Wible says. Classic also has Where’s Waldo?, Postman Pat, and VeggieTales. But Janney Capital Markets’ Tony Wible says he’s “incrementally more positive” on DWA with its acquisition of rights to baby boomer cultural icons including Archie, Casper the Friendly Ghost, The Lone Ranger, Lassie, Rocky & Bullwinkle, Gumby, Underdog, Fat Albert, Rudolph the Red Nosed Reindeer, Godzilla, He-Man, Dick Tracy, Frosty the Snowman, and Mr. It was widely known that DreamWorks was talking to Classic Media, and investors seem unmoved by the announcement: The studio’s shares are down 1% in early trading, roughly in line with the overall market. Also, either side can scrap the deal if it doesn’t close by October 20. DreamWorks Animation says in an SEC filing that the purchase price includes its assumption of Classic Media debt, although the amount was undisclosed.
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