DIC Entertainment, owners of the television rights to Sonic the Hedgehog, has been bought out by another US based group, Cookie Jar accoring to playthings.com.
LOS ANGELES and TORONTO—Cookie Jar Group is purchasing licensor DIC Entertainment and its related businesses for $31.5 million, the two companies announced this morning.
Under the terms of the agreement, Cookie Jar will purchase all of the issued and outstanding equity in DIC in a transaction valued at approximately US $87.6 million. Upon closing, DIC will continue as a subsidiary of Cookie Jar, which will remain a private company.
The deal will give Cookie Jar access to the merchandising and licensing rights to such brands as American Greetings’ Strawberry Shortcake; Mommy & Me, the parent-oriented, direct-to-retail product line featured at Wal-Mart; as well as Inspector Gadget, Horseland, Cake, Madeline and Eloise, among others. Its programming library includes nearly 3,000 half hours of children’s programming with series such as Sabrina, Liberty’s Kids, Sonic The Hedgehog and Care Bears.
The purchase also includes DIC’s European subsidiary, Copyright Promotions, and DIC’s one-third interest in KidsCo, an international children’s television channel created in partnership with NBC-Universal and Corus Entertainment.
Doubtful that Cookie Jar will do anything with the license, but I guess its newsworthy. News has been slow lately. :-/