BREAKING: DreamWorks Animation to acquire Classic Media for US$155M
GLENDALE, California – DreamWorks Animation SKG, Inc. today announced that it has entered into an agreement to acquire Classic Media for US$155 million in cash from Boomerang Media Holdings.
Classic 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. Classic Media owns one of the world’s largest comic book archives and media rights to the titles in the Golden Books library, which have sold over two billion copies worldwide. Their properties have been distributed in over 170 territories around the globe.
With well-established titles such as Casper the Friendly Ghost, Where’s Waldo?, Lassie, The Lone Ranger, George of the Jungle and Rocky & Bullwinkle, Classic Media’s properties have been a fixture in mainstream entertainment for decades. The Christmas Classics—Frosty the Snowman, Rudolph the Red-Nosed Reindeer and Santa Claus is Comin’ to Town—are the longest-running, highest-rated holiday specials in television history. Classic Media counts among its holdings contemporary bestsellers such as VeggieTales and the beloved Olivia property, as well as hits Postman Pat and Noddy in international markets.
“Classic Media brings a large and diverse collection of characters and branded assets that is extremely complementary to DreamWorks Animation’s franchise business, and we plan to leverage it across our motion picture, television, home entertainment, consumer products, digital, theme park and live entertainment channels,” said Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation.
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