DreamWorks Acquires Classic
Harvey Comics, Lone Ranger, More
Published: 07/23/2012 10:50pm
DreamWorks Animation is acquiring Classic Media, owner of properties such as the Harvey Comics characters (including Casper, see "Harvey Sells Out"), Golden Books, Lassie, The Lone Ranger, Where’s Waldo, Rocky & Bullwinkle, Veggie Tales, and with some rights to Voltron, for $155 million, the company announced Monday. Eric Ellenbogen and John Engelman, who co-founded and ran Classic, will join DreamWorks. Classic Media has 80 employees at its headquarters in New York and offices in the UK and at its Big Idea Entertainment offices in Nashville.
Over its most recent year, Classic Media had $89 million in sales and $19 million in operating profit.
Classic Media has a bit of a convoluted history. It was sold to British company Entertainment Rights by Ellenbogen and Engelman in December of 2006 (see "Entertainment Rights Buys Classic Media"). Ellenbogen and Engelman formed Boomerang Media with funding from GTCR in January of 2008 (see "$200 Million for New Content Company"). When Entertainment Rights ran into liquidity problems (see "Casper, Gumby Parent Scrambling") in early 2009, Boomerang acquired its assets in April of that year (see "Boomerang Media Acquires Entertainment Rights").
The deal is expected to close by the end of Q3.
|Rolling for Initiative--GAMA Goals and How They Would Benefit Me (And You)|
|DVD Round-Up: 'Parker,' Arnold, 'True Blood,' & 'Tenchi'|
|Confessions of a Comic Book Guy--'Jupiter's Legacy' Revisited|
|Rolling for Initiative--The Power of Curiosity and the Frustration of Surprise|
|DVD Round-Up: 'Cloud Atlas,' 'Doctor Who,' & 'Fraggle Rock'|
|Ted Yee of T&N Games on 'M:TG-Dragon's Maze' Prerelease|
|Ron Catapano of Ron's Comic World 'Man of Steel' Movie Tickets|
|Greg Angel of The Dragon's Keep on 'Guardians of the Galaxy' Movie|
|Charles Brownstein of the CBLDF on 'Saga' #12|
|Peter DeFelice of Pyramid Comics and Cards on 'Saga' #12|
|'Go Big or Go Extinct'--First Full 'Pacific Rim' Trailer
Kaiju Monsters Take Out San FranciscoCheck out the spectacular effects-filled trailer in HD.