Classic Forms Co-Venture to Represent Gumby

NEW YORK, October 9: Classic Media has entered into a
long-term joint venture with Premavision/Clokey Productions to manage all
rights in connection with the Gumby
brand.

Under the terms of the agreement, Classic will manage the
U.S. and international television, film, home video and digital media and
promotional rights for the characters Gumby, Pokey and more. The deal covers
the existing library of 223 episodes and the 1995 feature film. The company
will co-license all merchandising rights with Heat Licensing. Clokey
Productions will create and produce all future Gumby productions.

The two companies are looking to build on the success of the
50-year-old brand with a new direct-to-video movie, slated for a 2008 release,
alongside a new TV series.

“Gumby has had a huge impact on popular culture as well as
influencing a generation of animators,” said Eric Ellenbogen, the CEO of
Classic Media. “We are very enthusiastic about the addition of Gumby to our
portfolio of classic brands and look forward to working with the Clokey family
on many new productions.”

Joe Clokey, the president of Clokey Productions, added, “My
dad and I are thrilled to be working with Classic Media on this exciting
co-venture. Classic Media’s expertise across all facets of entertainment makes
them the perfect partner to ensure Gumby’s success for the next 50 years. Gumby
has always been an expression of my parents’ love for all children. With Classic
Media on board my parents’ vision continues.”

Gumby was created by Art Clokey in the 1950s.