Entertainment Rights (ER), the children’s programming company, has agreed to buy US company Classic Media Holdings for $210m (£106.9m).
Classic Media owns intellectual properties such as Lassie, Rocky and Bullwinkle, Casper the Friendly Ghost, the Lone Ranger and Ghostbusters. ER already has the likes of Postman Pat and Rupert the Bear in its portfolio.
ER says the Classic acquisition will see it cross-sell properties and programming into Europe and other international markets. ER intends to build new revenue streams and expand Classic’s licensing, music and new technology assets. The deal is subject to shareholder approval.
ER chief executive Mike Heap says: "This acquisition results in the creation of a major global force in children’s and family content, characters and brands. It will unite the characters and brands of ER and Classic, creating one of the strongest portfolios of contemporary classic and new children’s brands in the world."