Reliance ADA Group owned movie studio, DreamWorks, will be purchasing classic media for $155 million to gain it's extensive library of would-be classic cartoons and characters. DreamWorks will now hold the rights to Casper, the Friendly Ghost, Lassie, Where's Waldo, The Lone Ranger, Postman Pat and George of the Jungle.
The hasty cash transaction is just one aspect of DreamWorks' fast paced strategy to buy the rights to these Classic Media properties. The deal hasn't been finalized yet, but it is expected to go through in September, with both credit and cash according to The Hollywood Reporter.
The animation studio behind hits like Shrek, Madagascar, How to Train Your Dragon, and more, now has the opportunity to create reimaginings of some of the most celebrated childhood characters, but not every one that Classic Media owns. For instance, the company only holds 80 percent of the rights to Rocky and Bullwinkle, and rights have been given to Disney to work on a blockbuster version of The Lone Ranger.
Still, this foundation of classic cartoons could prove useful to DreamWorks at a time where their stock has dropped to $19 a share - down 9 percent in the past year. Some nostalgic films could bring in a new demographic of older viewers, along with their usual children demographic.
DreamWorks could bring in Christmas cash with a 3D animated version of Frosty the Snowman, or make a new summer adventure film with a remake of Richie Rich. Depending on the restrictions they have to work with in regard to distribution of these old-time cartoons and shows, there could be ample room for a DreamWorks comeback.
Audiences might even see more recent cartoons brought to the big screen after this transaction is complete. Shows like He-Man and Gumby might be over due for a feature film in DreamWorks' opinion, and Fat Albert could be up for a remake after the 2004 film.
Classic Media has been involved in making feature length films of its properties for a lengthy period of time, but with DreamWorks owning them now, the likelihood of more to come is even greater. Expect to see animated and live-action version of your favorite childhood franchises coming out in the close future.