DreamWorks Animation buys Classic Media for $155 million
After submitting an offer last week, DreamWorks Animation announced this morning it has bought Classic Media for $155 million. The purchase brings with it comics, cartoon and television properties as diverse as Casper the Friendly Ghost, Rocky and Bullwinkle, The Lone Ranger, Where’s Waldo?, Rudolph the Red-Nosed Reindeer, and the licensing and production rights to Gold Key characters like Magnus, Robot Fighter, Doctor Solar, and Turok, Son of Stone.
“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,” DreamWorks Animation CEO Jeffrey Katzenberg said in a statement. Founders and co-CEOs Eric Ellenbogen and John Engelman – seasoned executives with over 20 years of industry experience and a proven track record of success in managing high-quality content – have built an amazing team at Classic Media and are a welcome addition to the DreamWorks Animation family.”
Classic Media was founded in 2000 by former Marvel Entertainment CEO Ellenbogen and former Broadway Video executive Engelman, who spent much of the next decade acquiring the entire, or partial, libraries of companies like Rankin/Bass, Filmation, Harvey Comics and Jay Ward Productions, and ancillary rights to Golden Books properties, Tribune Media Services comic strips and World Events Productions cartoons.