UPDATE 7/23: It’s official! The Wall Street Journal has reported that Dreamworks is paying $155 million to acquire Classic Media LLP, owners of numerous cartoon stars and iconic intellectual properties.
Classic Media will now operate under the name DreamWorks Classics and co-Chief Executives Eric Ellenbogen and John Engelman will remain as co-heads, though the exact organizational structure is still being sorted out.
ORIGINAL 7/16 POST:
According to The New York Times, Dreamworks Animation has made an offer to acquire Classic Media – the owners of UPA, the Harvey Comics library (Casper, Richie Rich, etc), Roger Ramjet, Underdog and Total Television properties, The Lone Ranger and many Rankin-Bass specials including Rudolph The Red Nosed Reindeer. Classic Media also represents many intellectual properties owned by others including Jay Ward shows (Rocky & Bullwinkle, George of the Jungle, etc.), Felix The Cat and Archie.