Jeff Harris
08-16-2001, 04:25 PM
Months ago, the world thought that DiC Entertainment, creators of Inspector Gadget and distributors of the first season of Captain Planet, purchased a legendary children's entertainment company, Golden Books Entertainment for $170 million (including payment of all GBE's debt, which was about $50 million, and other benefits).
That has changed dramatically. A pair of companies have joined forces to buy the beligered company.
German-based Random House, publisher of numerous books from classic children's writers like Dr. Seuss, and Classic Media, an organization that owns UPA and recently purchased the Harveytoons library, has paid $84.4 million for the company, with additional payments for most debts.
Random House owns the publishing arm of Golden Books (which includes The Pokey Little Puppy, Tootsie, Solar: Man of the Atom, Turok: Dinosaur Hunter, and Magnus: Robot Fighter [the latter three were licensed in the 90s to Valiant Comics]) while Classic Media owns the entertainment libraries, which includes Lassie, and perennial holiday classics like Rudolph the Red-Nosed Reindeer and Frosty the Snowman.
More about the deal can be found at:
http://dailynews.yahoo.com/h/nm/20010816/en/media-goldenbooks_1.html
That has changed dramatically. A pair of companies have joined forces to buy the beligered company.
German-based Random House, publisher of numerous books from classic children's writers like Dr. Seuss, and Classic Media, an organization that owns UPA and recently purchased the Harveytoons library, has paid $84.4 million for the company, with additional payments for most debts.
Random House owns the publishing arm of Golden Books (which includes The Pokey Little Puppy, Tootsie, Solar: Man of the Atom, Turok: Dinosaur Hunter, and Magnus: Robot Fighter [the latter three were licensed in the 90s to Valiant Comics]) while Classic Media owns the entertainment libraries, which includes Lassie, and perennial holiday classics like Rudolph the Red-Nosed Reindeer and Frosty the Snowman.
More about the deal can be found at:
http://dailynews.yahoo.com/h/nm/20010816/en/media-goldenbooks_1.html