DIC Makes First Overseas Acquisition
By Jim Benson -- Broadcasting & Cable, 6/12/2006 11:59:00 AM
Children’s programming and brand management company DIC Entertainment (DIC) has acquired the privately owned, pan-European licensing agency Copyright Promotions (CPLG), which holds rights to The Simpsons and film characters ranging from Shrek to the Pink Panther.
The companies would not comment on price, but based on British press reports today and currency conversion rates, the deal could translate to between $7 million and $15.5 million, depending on CPLG’s performance over the next three years.
This marks DIC’s first acquisition of an international company, providing it with offices in the U.K., France, Germany, Italy, Spain, Portugal and The Netherlands.
CPLG will continue to operate from its London headquarters as a stand-alone agency under CEO Kirk Bloomgarden.
DIC anticipates no post-transaction changes impacting CPLG’s scope or client list.
The Burbank, Calif.-based company says the purchase makes it only the third American provider, behind majors Disney and Warner Bros., with a product licensing office in Europe.
“This acquisition complements our overall growth strategy,” says DIC Chairman/CEO Andy Heyward.
Bloomgarden adds that the deal will give CPLG wider access to “future productions and markets."
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