Christian Retailing

NEWSLETTERS Current Issue DreamWorks acquires VeggieTales' parent company
DreamWorks acquires VeggieTales' parent company PDF Print E-mail
Wednesday, 25 July 2012 04:26 PM EDT

The animation studio that created Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon has acquired the parent company of Big Idea and its popular VeggieTales brand.

DreamWorks Animation SKG announced this week that it has entered into an agreement to buy Classic Media for $155 million in cash from Boomerang Media Holdings LLC, a portfolio company of Chicago-based private equity firm GTCR.

Classic Media owns one of the most extensive portfolios featuring many of the best-known franchises in family entertainment, including Lassie, The Lone Ranger, Rocky & Bullwinkle, Where's Waldo? and George of the Jungle.

In 2009, Boomerang Media LLC purchased Big Idea and Classic Media, which bought Big Idea after the company filed for bankruptcy in 2003.

"As we approach celebrating Big Idea's 20th anniversary [in 2013], we couldn't be more pleased to join the DreamWorks Animation team," said Leslie Ferrell, general manager of Big Idea. "DreamWorks Animation respects and supports Big Idea's successful history in producing faith-based, family friendly entertainment and is committed to supporting our growth. We expect many wonderful things to come of this partnership."

DreamWorks Animation 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," he said.

Classic Media has approximately 80 employees and is headquartered in New York City, with offices in the U.K. and at its Nashville-based Big Idea division.

 

In this current issue:

Deadline for CR's Best awards closes in

News image

Voters for Christian Retailing's Best awards have only one more...

READ MORE

David C Cook taps new vice president and publisher

News image

Executive Publisher Verne Kenney has announced that Kyle Duncan, a...

READ MORE

Christian Brands makes Universal Designs its latest acquisition

News image

The Universal Designs Company of DeLand, Florida, has become the...

READ MORE

B&H Publishing announces ‘Gospel for Life’ partnership with ERLC

News image

B&H Publishing Group and The Ethics & Religious Liberty Commission...

READ MORE

CLI reaches milestone in service to prisons

News image

Since its founding in 1996, Christian Library International has helped...

READ MORE

LifeWay finds buyer for downtown Nashville campus

News image

Uptown Nashville LLC has come under contract with LifeWay Christian...

READ MORE

Voting deadline nears for Charisma's Best Awards

News image

Time is winding down on the voting period for Christian...

READ MORE

LifeWay pulls ‘Heaven visitation’ books from shelves

News image

Adhering to the 2014 Southern Baptist Convention resolution on “the...

READ MORE

Organizations partner to ‘Ignite’ church resource marketing program

News image

Send The Light Distribution, a leading distributor of products serving...

READ MORE

David C Cook author succumbs to breast cancer at 38

News image

Less than a week after her book The Hardest Peace...

READ MORE

Loyal customer sparks re-opening of Virginia Christian bookstore

News image

The closing of Rainbow Parable Christian Bookstore in Colonial Heights,...

READ MORE

IVP author wins Templeton Prize

News image

IVP author Jean Vanier has been awarded the Templeton Prize,...

READ MORE
100%
-
+
0
Show options

a