DreamWorks Acquires Classics

DreamWorks Animation recently declared its purchase of Classic Media, a company of many classic cartoons and live-action features. DreamWorks paid $155 million for the purchase and is quite confident that the addition will add to its own repertoire.

The CEO of DreamWorks animation, Jeffrey Katzenberg, stated: “Classic Media brings a large and diverse collection of characters and branded assets that is extremely complementary to DreamWorks Animation’s franchise business.”

This “large and diverse collection” includes hits such as “Rocky & Bullwinkle,” “The Lone Ranger,” “Casper the Friendly Ghost,” and “George of the Jungle,” in addition to holiday classics such as “Frosty the Snowman,” “Rudolph the Red-Nosed Reindeer,” and “Santa Claus is Comin’ to Town.” Some more modern classics include the “Veggie Tales” series and “Olivia.”

Classic Media’s founders and chief executive officers Eric Ellenbogen and John Engelman seem pleased with the purchase: “Our combination with DreamWorks Animation will expand the opportunities for us and for our content and distribution partners around the globe.”

– Source:  UPI.com, USAToday, 7/23/12.