Viacom Purchases Ninja Turtles For $60 Million

Posted by Robin Paulson Categories: Independent,

Someone break the pizza out—we’re having a party with the Teenage Mutant Ninja Turtles!

Media conglomerate Viacom (which owns Nickelodeon, MTV, Paramount) recently purchased the rights to the crime-fighting crew for a cool $60 million. Previously owned by Mirage Studios and 4Kids Networks, $10 million of the payment went to terminating the rights 4Kids currently has, which was set to naturally expire in 2012 (because Viacom doesn’t quite have the patience to wait three more years).

Inking the expensive deal comes 25 years after creators Peter Laird and Kevin Eastman (Mirage Studios) self-published the very first TMNT comic. Cowabunga!

To justify the price tag, Viacom plans for an upcoming 2012 film, as well as an accompanying CGI television series. Oh those businessmen—they’re so savvy.

Read More | Bleeding Cool

Disney Buys Marvel for $4 Billion

Posted by Robin Paulson Categories:

As if Disney didn’t own much of our childhood already, the media conglomerate has now spent an estimated $4 billion to acquire Marvel Entertainment, marking the deal as its largest since attaining Pixar in 2006.

Of the whopping $4 billion the company shelled out to obtain the comic book powerhouse, Chief Financial Officer Tom Staggs points out that any great venture is worth the price tag: “You can’t expect to pay a bargain price for premium assets. Marvel is worth more inside Disney than outside Disney.”

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Read More | CNN