Nickelodeon Acquires Global Rights to Teenage Mutant Ninja Turtles for $60 million

Nickelodeon has acquired global intellectual property rights to the television, film, and video game property Teenage Mutant Ninja Turtles. The company purchased the rights from the Mirage Group and 4Kids Entertainment, Inc. for approximately $60 million. Nickelodeon will develop a new CG-animated television series, as well as a feature film, based on the franchise. The film, as part of a partnership with Paramount Pictures, and the series are slated to premiere in 2012.

Nickelodeon has also acquired all merchandising rights to the property and will continue to work with the property’s partner, Playmates Toys. The Teenage Mutant Ninja Turtles animated television series, produced by 4Kids Entertainment and Mirage Studios, will continue to air on The CW’s Saturday morning programming block through Aug. 31, 2010.