Nick Acquires Rights for "Teenage Mutant Ninja Turtles"; New TV Series and Movie
TMC
Nickelodeon has announced the acquisition of the global rights to the
Teenage Mutant Ninja Turtles franchise from the Mirage Group and 4Kids
Entertainment. A new CGI animated TV series has begun development,
with a scheduled premiere date in 2012, and Nickelodeon has also
partnered with corporate sibling Paramount Pictures to develop a
Turtles feature film which is also slated for 2012. The lucrative
merchandising rights are included in the deal as well, and Nickelodeon
will continue to work with its long-standing partner Playmates Toys on
new Turtles toys.
The full press release follows:
NickelodeontoDevelop New CG-Animated Television Seriesand Paramount
Pictures to Develop Feature Film of Renowned Global Property
NEW YORK—Oct. 21, 2009—Furthering its mission to provide premium
content to its audiences, Nickelodeon—part of MTV Networks, a division
of Viacom Inc. (NYSE: VIA, VIA.B)—has acquired the global rights to
the Teenage Mutant Ninja Turtles from The Mirage Group and 4Kids
Entertainment, Inc. (NYSE: KDE). The acquisition provides Nickelodeon,
the world’s number-one entertainment brand for kids, global
intellectual property rights to Teenage Mutant Ninja Turtles, the hit
television, film and video game property that has delighted kids
around the world for the last 25 years. The aggregate purchase price
for the transactions is approximately $60 million.
Nickelodeon also announced plans to develop a new CG-animated
television series based on the popular superhero franchise,
anticipated to premiere in 2012. Additionally, in partnership with
Viacom’s Paramount Pictures, a new release of a new Teenage Mutant
Ninja Turtles feature film is also planned for 2012. Nickelodeon has
also acquired all merchandising rights to Teenage Mutant Ninja
Turtles, and will continue to work with its original and long-standing
toy partner, Playmates Toys, which has been the creative force behind
the successful TMNT master toy program over the last two decades.
“Teenage Mutant Ninja Turtles shares a comedic sensibility with the
Nickelodeon DNA, with added layers of action and fantasy that have
kept this property an evergreen favorite with multiple generations of
audiences,” said Cyma Zarghami, President, Nickelodeon/MTVN Kids and
Family Group. “We are extremely happy to have the opportunity to be
able to focus on this property and creatively re-introduce it to a new
generation of kids.”
“Teenage Mutant Ninja Turtles is a property that maintains a very
passionate global fan base, is rich with opportunity for a tentpole
movie, and is exactly the right property for us to work together with
Nickelodeon,” said Adam Goodman, President, Paramount Pictures.
“Mirage has been the proud keeper of the Turtles’ brand since 1984,
and in 2009 we celebrated their 25th anniversary with our legions of
fans,” said Gary Richardson, CEO, Mirage Studios. “Nickelodeon is a
powerhouse global brand, and we are confident that the company will be
a wonderful steward for Leonardo, Raphael, Michelangelo, Donatello and
all the other TMNT characters and take them in all kinds of exciting
and new creative directions.”
“We enjoyed our eight-year partnership with Mirage during which 4Kids
and Mirage re-launched the Teenage Mutant Ninja Turtles franchise for
a new generation of kids around the world,” said Alfred Kahn, Chairman
and CEO of 4Kids Entertainment, Inc. “We will also work with Mirage
and Viacom so that our Turtles’ licensees can be assured of a seamless
transition.”
Considered one of the most popular kids’ television programs of the
1980s, Teenage Mutant Ninja Turtles is a classic, global property
created in 1984 by Kevin Eastman and Peter Laird. It first debuted as
a successful comic book series and then became a hit animated TV show,
a live-action television series, and later spawned four blockbuster
theatrical releases. The property also has translated into a
significant consumer products business—with DVDs, video games, toys
and more--that has generated billions of dollars at retail.
Teenage Mutant Ninja Turtles is based on four mutant turtles--trained
in the art of Ninjitsu--who battle evil from the New York sewers. The
Teenage Mutant Ninja Turtles animated television series--jointly
produced by 4Kids Entertainment and Mirage Studios—will continue to
air on “TheCW4Kids” Saturday morning programming block on The CW
network through Aug. 31, 2010.