August 5, 2012
DreamWorks Buys VeggieTales's Owner
Acquisition comes as Big Idea prepares to celebrate 20th anniversary.
DreamWorks Animation has purchased Classic Media, the parent company of Big Idea and the VeggieTales brand. Big Idea will celebrate its 20th anniversary next year.
The $155 million deal gives DreamWorks the rights to more than 450 family titles, including Lassie, Casper the Ghost, The Lone Ranger, and George of the Jungle.
"DreamWorks Animation respects and supports Big Idea's successful history in producing faith-based, family friendly entertainment and is committed to supporting our growth," Big Idea manager Leslie Ferrell said to Christian Retailing. "We expect many wonderful things to come of this partnership."
"[Classic Media] is arguably one of the largest, most valuable collection of characters and branded assets left in the world today," DreamWorks Animation CEO Jeffrey Katzenberg, said to Bloomberg News. "We see this really providing DreamWorks with whole new sets of opportunities.”
In addition to a behind-the-scenes profile of VeggieTales creator Phil Vischer, CT has closely followed Big Idea's ascendency and business troubles, including when Big Idea filed for bankruptcy and attempted to recover under a new owner; when an appeals court reversed the copyright law decision that put Big Idea in bankruptcy; and debate over NBC picking up VeggieTales by cutting out its core.
VeggieTales coverage can be found here.