New York, July 24 (FinanceEnquiry.com) – The Glendale-based animation studio, DreamWorks (NASDAQ: DWA) has acquired Classic Media for $155 million in cash.
It is yet not clear that if the new deal would hamper the The Steven Spielberg-founded company’s plan to make 2-3 films every year. Under the customary closing conditions, it is expected that the transaction will be completed by the end of September
New York City-based Classic Media owns rights to various characters such as Casper the Friendly Ghost, The Lone Ranger, Lassie, George of the Jungle, Where’s Waldo and Postman Pat.
Classic Media has offices in UK and Nashville with around 80 employees. It is a proud owner of 450 movies and 6,100 episodes of TV shows which includes animated as well as live action. The company obtains the media rights to children’s books ‘Golden Books’ and rights to a comic book archive.
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