Report: DreamWorks Animation Makes Classic Media Bid

LOS ANGELES/NEW YORK: DreamWorks Animation is said to have offered $150 million to acquire Classic Media, according to published reports.

For DreamWorks Animation, the properties in the Classic Media stable—including Casper, Lassie, Where’s Waldo, and a number of other well-known brands—could provide a steady supply of IP for feature-film releases. According to the New York Times, DreamWorks Animation is particularly keen on broadening its licensed-products business. The report indicates that DreamWorks Animation currently leads the bidding for Classic Media with its $150 million offer.

While Classic Media is home to a deep stable of veteran brands, the Times report notes that the value of the company may be limited because it doesn’t control all the rights to all of its major properties. For example, Disney acquired the film rights to the Lone Ranger. The theatrical with Johnny Depp and Armie Hammer is slated for a 2013 release.