TV-Loonland AG is selling all its rights to the ‘Hasbro Classics Library’ back to toymaker Hasbro Inc. Under the terms of the deal, Hasbro will pay TV-Loonland $7 million for the catalog, which includes such renowned titles such as
Transformers, My Little Pony and G.I. JOE. TV-Loonland originally acquired the programs from Sony BMG back in December of 2000.
“For TV-Loonland AG, this deal not only allows us to repay the greater majority of all of our outstanding debt, it also provides us with the platform from which to take further commercial decisions regarding the future direction of the group and the new properties that we have been developing,’ says TV-Loonland AG CEO Simon Flamank. ‘We have enjoyed working closely with Hasbro and all of their teams over the course of the last two years, and we look forward to continuing those relationships in the future.’
Brian Goldner, Hasbro’s chief operating officer, adds, ‘As we deliver new immersive entertainment experiences to audiences worldwide, it was extremely important that we had the rights to fully control the usage of our intellectual properties. Entertainment is becoming increasingly important in helping us to strengthen and build our brands globally, and this will enable us to engage consumers in new and exciting ways.’
Flamank says that TV-Loonland hopes to be in a position soon to report to shareholders further news on the sale of its Metrodome subsidiary. Both sales will help the company focus on its remaining operative business, which includes such children’s properties as Little Princess, The Owl, Raymond, Penelope and Pat & Stan.