Cookie Jar buys DIC
By Adnews Staff
Distribution company Cookie Jar Group of Toronto has purchased DIC Entertainment of Burbank, CA for approximately US$87 million. DIC, which specializes in television programs for children, will operate as a subsidiary of Cookie Jar. Combined, the two firms own a library of approximately 6,000 half-hour episodes of animated television programs featuring a number of well-known brands including Strawberry Shortcake, Inspector Gadget, Madeline, Eloise, Care Bears, The Doodlebops and Caillou, among others. The merger also includes DIC's one-third interest in international children's television channel KidsCo. "Our combined company will be a powerhouse in children's brands, with global reach through television, DVD, online, books, music and consumer products," said Cookie Jar president and COO Toper Taylor. "We will be a more valuable partner for broadcasters, licensors and retailers with our expanded library, broad market reach, and unmatched capabilities in taking a property from creation to global broadcast, licensing, retail and promotions." The deal, which is subject to various approvals, is expected to close by the fall.