Net income US$ 19 million (2012) Revenue 82 million USD (2012) | Founded 2000 | |
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Formerly called Classic Media (2000–2012) Films produced Postman Pat: The Movie, The Legend of Frosty the, Kung Fu Magoo, Dudley Do‑Right, George of the Jungle 2 | ||
DreamWorks Classics is an American entertainment company owned by DreamWorks Animation, a subsidiary of NBCUniversal. It was founded as Classic Media in May 2000 by Eric Ellenbogen and John Engelman. The studio's library consists of acquired intellectual property catalogs and character brands as well as the licensing rights for various third-party properties. In 2012, DreamWorks Animation acquired Classic Media from its then-owner, Boomerang Media.
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Classic Media (2000–2012)
Classic Media was founded by Eric Ellenbogen and John Engelman in May 2000 and acquired the UPA catalog from Henry Saperstein's estate. Frank Biondi, the former head of Universal Studios, and movie producer Steve Tisch invested in the company. Classic Media then bought the Harvey Entertainment catalog on March 11, 2001. On August 16, 2001, Classic Media and Random House won a joint bid for the assets of Golden Books, with Classic Media acquiring Golden Book's entertainment division (along with the Dell Comics and Gold Key libraries) and the production, licensing and merchandising rights for the Golden Books characters while Random House acquired Golden Books's book publishing properties. On October 31, 2003, Classic Media purchased the assets of the bankrupt Big Idea Entertainment. By 2007, Classic had formed Bullwinkle Studios, a joint venture with Jay Ward Productions, to manage the Jay Ward characters.
On April 7, 2005, the company was recapitalized by a group of investors consisting of Spectrum Equity Investors plus existing investors led by Pegasus Capital Advisors. A $100 million senior debt facility was also arranged from JP Morgan Chase Bank led bank group. With the deal Spectrum became majority owner over existing investor (like Random House Ventures) with a representative on the company board of directors.
In August 2006, Classic Media announced a joint venture with ION Media Networks, NBCUniversal, Corus Entertainment and Scholastic Corporation to launch Qubo, a kids' entertainment network.
On December 14, 2006, it was announced that Classic Media would be acquired by UK-based rival Entertainment Rights for $210.0 million. Before the acquisition was completed both companies announced distribution and production agreements with Genius Products, LLC, replacing the Sony Wonder deal.
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 U.K. and U.S. subsidiaries including Classic Media, Inc. and Big Idea Entertainment from its administrators. On May 11, 2009, Boomerang Media announced that the former U.K. and U.S. subsidiaries of Entertainment Rights would operate as a unified business under the name Classic Media while Big Idea would operate under its own name. On March 7, 2012, Classic Media brought the "Noddy" brand from Chorion and later brought the "Olivia" brand from them on March 19.
DreamWorks Classics (2012–present)
On July 23, 2012, DreamWorks Animation acquired Classic Media from Boomerang Media for $155 million; the company became a unit of DreamWorks Animation and was renamed DreamWorks Classics. On June 18, 2014, DreamWorks Animation bought the "Felix the Cat" brand and added it to the DreamWorks Classics portfolio. On April 28, 2016, NBCUniversal announced it would be acquiring DreamWorks Animation for $3.8 billion. The acquisition was completed on August 22.