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NEW YORK: 4Kids Entertainment has filed a motion with the U.S. Bankruptcy Court to auction off the rights to the Yu-Gi-Oh! franchise, among other assets, this June, with an initial $10-million bid in from a company affiliated with Saban Capital Group.
The motion notes that the $10 million “stalking horse” bid will be used to “establish the floor price” for the auctioning off of 4Kids’ assets. A company under the name of Kidsco Media Ventures has made the initial offer. Adam Chesnoff, Saban Capital Group’s president and COO, is listed as a contact for Kidsco Media Ventures in one of 4Kids' filings about the auction.
The auction includes the Yu-Gi-Oh! business, ad revenues from The CW block and from streaming on Hulu, the Cubix property, Viva Pinata and Charlie Chan, among other assets.
Interested parties in the 4Kids properties have till the end of May to submit bids, with an auction to be held June 5. The sale hearing is set for June 7.
Last month, 4Kids settled litigation that had been brought against the company by Asatsu-DK and TV Tokyo regarding the Yu-Gi-Oh! property. Included in the settlement was recognition that 4Kids is the exclusive licensing agent for merchandising, TV broadcast and home-video rights for the brand outside of Asia. The settlement came a year after the suit was filed. 4Kids had filed for Chapter 11 shortly after the litigation was announced last March
http://www.worldscreen.com/articles/display/2012-04-20-4kids-yu-gi-oh-auction |
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发表于 2012-4-22 02:36:14
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