4Kids will auction its Yu-Gi-Oh! rights on June 5th, with an affiliate of the Saban Capital Group the stalking horse bidder with a bid of $10 million, the bankruptcy court ordered on Monday. As the stalking horse bidder, the Saban company will receive a termination fee if it does not acquire the rights. 

4Kids filed for Chapter 11 bankruptcy a year ago (see "4Kids Files Chapter 11"), and settled the lawsuit over its rights to the Yu-Gi-Oh! property two months ago (see "'YGO' Suit Settled").

Meanwhile 4Kids, having shed its most potent license, has signed a deal that will give it international rights to the 52-episode Beastkeeper cartoon series produced in Italy by Mondo TV, Starbright, and Ponpoko Productions.  Mondo TV began as a distributor of anime and manga in Italy, and the Beastkeeper series reflects a heavy anime influence, both stylistically (check out the hairdos on the series’ tween protagonists) and thematically (the young boy at the center of the series possesses an ancient artifact that gives him the power to control and merge with Beasts, legendary creatures who are hidden in every part of the world).

Note:  This article as published on May 1 erroneously reported that the sale of Yu-Gi-Oh! assets had already taken place.  Our apologies for the error.