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BURBANK AND HOLLYWOOD, Calif., Feb. 17, 2004 – The Walt Disney Company (NYSE: DIS) and The Jim Henson Company today announced that they have entered into an agreement under which Disney will acquire the beloved “Muppets” and “Bear in the Big Blue House” properties from Henson.
The transaction includes all Muppet assets, including the Kermit, Miss Piggy, Fozzie Bear, Gonzo and Animal characters, the Muppet film and television library, and all associated copyrights and trademarks, as well as all the “Bear in the Big Blue House” characters, television library, copyrights and trademarks. The parties have signed a binding purchase agreement and expect the transaction to close within two months, subject to receiving the necessary regulatory clearances. The transaction does not include the “Sesame Street” characters, such as Big Bird and Elmo, which are separately owned by Sesame Workshop. The deal also includes non-exclusive production and consulting agreements under which Henson will develop potential new programming featuring the “Muppets” and “Bear in the Big Blue House” for Disney.
Brian Henson, who with his sister Lisa is co-chair and co-chief executive officer of The Jim Henson Company, said, “This new and very important relationship will enable our two companies to combine our respective talents and resources in ways that will fully realize the tremendous potential of the Muppet and Bear franchises. Michael Eisner’s long-standing passion and respect for the Muppets gives me and my family even more confidence in Disney as a partner.”
Lisa Henson said, “In the months before his death in 1990, my father Jim Henson pursued extensive discussions with The Walt Disney Company based on his strong belief that Disney would be a perfect home for the Muppets. As such, the deal we announced today is the realization of my father’s dream, and ensures that the Muppet characters will live, flourish and continue to delight audiences everywhere, forever. My brothers and sisters—Brian, Cheryl, John, Heather—and I are so proud to have the Muppets living under the same roof as Walt Disney’s own timeless characters. We could not possibly be more pleased.” http://www.henson.com/company/press/html/021704.html
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