Dreamworks Animation Agrees to Acquire Classic Media
Casper the Friendly Ghost, Where's Waldo?, Lassie, George of the Jungle and Christmas Classics Among Extensive Portfolio of Intellectual Property Sold to DreamWorks Animation for $155 Million
GLENDALE, Calif., July 23, 2012 -- DreamWorks Animation SKG, Inc. 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.
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.