A lot of modern-day releases are remakes of beloved older franchises, and DreamWorks is well aware of the kind of money nostalgia can bring in. In October, DreamWorks began talks to acquire Classic Media, the company that owns pretty much every beloved older children’s franchise ever. Classic Media is associated with Jay Ward Productions, whose catalog includes Rocky and Bullwinkle, so with DreamWorks already working on a version of Mr. Peabody and Sherman for 2013, getting the rest of the package seems like a good idea.
Classic Media is the name behind such franchises as Archie, Casper the Friendly Ghost, Where’s Waldo?, Lassie, The Lone Ranger, and George of the Jungle, and also owns modern hits Veggie Tales and Olivia, as well as Postman Pat for the Brits. You know those stop-motion Christmas classics that you see on TV every December? That’s Classic Media, too. DreamWorks will be getting a lot if the deal goes through, but the price tag is pretty steep. Classic Media is not exactly rolling in money right now, and DreamWorks will be paying off their debts if the acquisition is finalized.
What’s the price, exactly? DreamWorks agreed to $155 million. They can certainly afford it, and if even one of the inevitable franchise reboots goes well, they’ll make it all back pretty soon.[Via Deadline]