Classic Media, LLC, also known asDreamWorks Classics, is an Americanentertainment company owned byDreamWorks Animation, a subsidiary ofUniversal Pictures, a division ofNBCUniversal, which in turn is a subsidiary ofComcast. Founded in 2000 byEric Ellenbogen and John Engelman,[5] The studio's library consists of acquiredintellectual property catalogs and character brands, as well as the licensing rights for various third-party properties. In 2012, Boomerang Media sold Classic Media to DreamWorks Animation, and began trading under the name DreamWorks Classics (the legal name is still Classic Media, LLC).[6][7] DreamWorks Animation became a subsidiary of NBCUniversal in 2016.[8]
On April 7, 2005, the company underwent a recapitalization led by a group of investors, including Spectrum Equity Investors and existing investors headed by Pegasus Capital Advisors. Additionally, a senior debt facility of $100 million was secured through a bank group led by JP Morgan Chase Bank. With the deal, Spectrum became the majority owner over the existing investors, with a representative on the company board of directors.[11]
On December 14, 2006, it was announced that Classic Media would be acquired by UK-based rivalEntertainment Rights for $210.0 million.[17] Before the acquisition was completed, both companies announced distribution and production agreements withGenius Products LLC, replacing theSony Wonder deal.[18]
Entertainment Rights fell in to administration on April 1, 2009. On the same day, Boomerang Media LLC, formed by Ellenbogen and Engelman in 2008 with equity funding from GTCR, announced that it would acquire Entertainment Rights' principal UK and American subsidiaries, including Classic Media, Inc. andBig Idea Entertainment, from its administrators.[19] On May 11, 2009, Boomerang Media announced that the former UK and American subsidiaries of Entertainment Rights would operate as a unified business under the name Classic Media, while Big Idea would operate under its own name.[3][4]
On February 20, 2010, Classic Media purchased the then-upcoming manga-inspired television seriesMy Life Me from the bankruptTV-Loonland AG.[20][21]
Classic Media bought theNoddy[22] andOlivia brands on March 7 and 19, respectively in 2012 fromChorion.[23]
On July 23, 2012,DreamWorks Animation announced that they would acquire Classic Media for $155 million from Boomerang Media, with the deal closing in September of that year.[6][7] Afterwards, Classic Media began trading asDreamWorks Classics to associate itself with its parent company, although the parent company remains under the Classic Media name.
On October 3, 2012, DreamWorks Classics made its first post-DreamWorks sale by securing licensing and distribution rights to Studio Hari'sThe Owl & Co outside of France and other French-speaking territories.[24]
On September 17, 2013, DreamWorks Animation announced they had purchased the programming library of the British animation studioChapman Entertainment, and placed distribution through DreamWorks' UK-based TV distribution operation.[25]
On June 18, 2014, DreamWorks Animation bought theFelix the Cat brand and added it to the DreamWorks Classics portfolio.[26]
On April 28, 2016,NBCUniversal announced it would buy out DreamWorks Animation in a $3.8 billion deal.[27] The buyout was completed on August 22.[8]
^Tuchow, Ryan (January 13, 2020)."CBS All Access scoops up DreamWorks Classics".Kidscreen.Archived from the original on May 17, 2020. RetrievedJune 24, 2020.US SVOD CBS All Access is growing its children's programming with three new animated series from DreamWorks Animation-owned distributor Classics Media.
