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Article: The Mirage Group Sells Teenage Mutant Ninja Turtles to Nickelodeon.
- Article from:
- Entertainment Newsweekly
- Article date:
- November 6, 2009
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As previously announced, The Mirage Group, owners of the Teenage Mutant Ninja Turtles™ property, have sold the iconic brand to Nickelodeon - part of MTV Networks, a division of Viacom Inc. (NYSE:VIA)(NYSE:VIA.B). 4Kids Entertainment (NYSE:KDE) has received a payment of approximately $9.75 million at the Closing in consideration of its agreement to terminate its right to serve as the merchandise licensing agent prior to the scheduled expiration of the representation agreement in 2012. 4Kids may also receive an additional $1 million upon expiration of the escrow relating to the transaction.
The sale of the Turtles property, which has achieved popularity ...