DreamWorks Classics

Last updated

Classic Media, LLC
Classic Media/DreamWorks Classics
Company type Subsidiary
Industry Intellectual property
Predecessors
FoundedMay 2000;23 years ago (2000-05)
Founders
Headquarters
New York City, New York
,
United States
Revenue US$82 million [1]  (2012)
US$19 million [1]  (2012)
Number of employees
80 [2]  (2012)
Parent
Subsidiaries
Website www.dreamworks.com/classics

DreamWorks Classics is an American entertainment company owned by DreamWorks Animation, a subsidiary of Universal Pictures, a division of NBCUniversal, which in turn is a subsidiary of Comcast. Founded as Classic Media in 2000 by Eric Ellenbogen and John Engelman, [5] The studio's library consists of acquired intellectual property catalogs and character brands, as well as the licensing rights for various third-party properties. In 2012, Boomerang Media sold Classic Media to DreamWorks Animation, who rebranded the company as DreamWorks Classics (the legal name is still Classic Media, LLC). [6] [7] DreamWorks Animation became a subsidiary of NBCUniversal in 2016. [8]

Contents

History

Classic Media was founded by Eric Ellenbogen and John Engelman in May 2000 after acquiring the United Productions of America (UPA) catalog and assets from the estate of Henry Saperstein. [5] Frank Biondi, the former head of Universal Studios, and film producer Steve Tisch invested in the company. [9] Classic Media then bought the Harvey Films catalog on March 11, 2001. [9] [10] On August 16, 2001, Classic Media and Random House won a joint bid for the assets of Golden Books, with Random House, and Classic Media acquiring Golden Books' entertainment division (including the Dell Comics and Gold Key Comics libraries [11] ) and Random House acquiring Golden Books' book publishing properties. Classic then purchased much rights to the Jay Ward characters and formed Bullwinkle Studios, a joint venture with Jay Ward Productions, to manage them sometime in 2002. [12] [13] On October 31, 2003, Classic Media purchased the assets of the bankrupt Big Idea Entertainment catalog. [14] By 2007, Bullwinkle Studios became converted to a functioning studio. [6] [15]

On April 7, 2005, the company was recapitalized by a group of investors consisting of Spectrum Equity Investors plus existing investors led by Pegasus Capital Advisors. A $100 million senior debt facility was also arranged from JP Morgan Chase Bank-led bank group. With the deal, Spectrum became a majority owner over the existing investors, with a representative on the company board of directors. [11]

In August 2006, Classic Media announced a joint venture with ION Media Networks, NBCUniversal, Corus Entertainment and book publisher Scholastic Corporation to launch Qubo, a kids' entertainment network. [16]

Logo for Classic Media Classic Media logo.svg
Logo for Classic Media

On December 14, 2006, it was announced that Classic Media would be acquired by UK-based rival Entertainment Rights for $210.0 million. [17] Before the acquisition was completed, both companies announced distribution and production agreements with Genius Products LLC, replacing the Sony Wonder deal. [18]

Entertainment Rights fell in to administration on April 1, 2009. On the same day, Boomerang Media LLC, formed by Ellenbogen and Engelman in 2008 with equity funding from GTCR, announced that it would acquire Entertainment Rights' principal UK and American subsidiaries, including Classic Media, Inc. and Big Idea Entertainment, from its administrators. [19] On May 11, 2009, Boomerang Media announced that the former UK and American subsidiaries of Entertainment Rights would operate as a unified business under the name Classic Media, while Big Idea would operate under its own name. [3] [4]

On February 20, 2010, Classic Media purchased the then-upcoming manga-inspired television series My Life Me from the bankrupt TV-Loonland AG. [20] [21]

Classic Media bought the Noddy brand on March 7 [22] and later bought the Olivia brand on March 19, both in 2012 from Chorion. [23]

Sale to DreamWorks Animation (2012–present)

On July 23, 2012, DreamWorks Animation announced that they would acquire Classic Media for $155 million from Boomerang Media, with the deal closing in September of that year. [6] [7] Afterwards, Classic Media began trading as DreamWorks Classics to associate itself with its parent company, although the parent company remained under its former name.

On October 3, 2012, Classic Media made its first post-DreamWorks sale by securing licensing and distribution rights to Studio Hari's The Owl & Co outside of France and other French-speaking territories. [24]

On September 17, 2013, DreamWorks Animation announced they had purchased the programming library of the British animation studio Chapman Entertainment, and placed distribution through DreamWorks' UK-based TV distribution operation. [25]

On June 18, 2014, DreamWorks Animation bought the Felix the Cat brand and added it to the DreamWorks Classics portfolio. [26]

On April 28, 2016, NBCUniversal announced it would buy out DreamWorks Animation in a $3.8 billion deal. [27] The buyout was completed on August 22. [8]

In January 2020, Classic Media pre-sold streaming rights to three series; Lassie , George of the Jungle and Mr. Magoo , by CBS All Access (now as Paramount+). [28]

Libraries

Catalogs

Character brands

Joint ventures

Other rights

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References

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  9. 1 2 3 "Harvey Sells Out". ICv2. March 11, 2001. Archived from the original on February 22, 2014. Retrieved February 14, 2014.
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  19. 1 2 Daswani, Mansha. "Boomerang Media Buys ER". WorldScreen.com. Archived from the original on April 2, 2009. Retrieved August 31, 2013.
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  23. 1 2 Arrant, Chris (March 19, 2012). "Classic Media Acquires "Olivia" Rights from Chorion". Cartoon Brew. Archived from the original on December 28, 2013. Retrieved August 28, 2013.
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  42. ↑ Bynum, Aaron. "'My Life Me' Animation Now in New Hands". Animation Insider. Archived from the original on April 4, 2012. Retrieved September 24, 2011.
  43. ↑ "Classic picks up Ooglies".
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