Nickelodeon has acquired global intellectual property rights to the “Teenage Mutant Ninja Turtles” brand and franchise from The Mirage Group and 4Kids Entertainment, Inc. for a cool $60 million.
With the acquisition, Nickelodeon has announced plans to develop a new CG-animated television series based on the popular superhero franchise and a feature film which it will develop with Paramount Pictures (both are owned by Viacom Inc.). Both the film and first episode of the show are expected to score a release in 2012.
Nickelodeon’s deal includes all merchandising rights and will continue the partnership with toy partner Playmates Toys who has been handling the property for two decades.
The currently screening “Teenage Mutant Ninja Turtles” animated television series will continue to air on The CW network through till next August.