Daron Worldwide Trading Inc. and Toys and Models Corp., both headquartered in N.J., will combine business activities as of September 1. The two companies are both involved in the manufacture and distribution of model airplanes. As of September 1, their operations will be based out of Daron’s headquarters located in Fairfield, N.J.
It’s been widely reported that merger negotiations between Hasbro and DreamWorks Animation have been called off, due in part to the stock performance of Hasbro, as well as the high asking price by DreamWorks Animation CEO Jeffrey Katzenberg.
Hasbro reportedly ended conversations on Friday, for reasons that included a $30 share price asked for by Katzenberg. Some analysts deemed that price high. In addition, the possible merger had a negative effect on Hasbro’s stock–it fell on both Thursday and Friday–which is said to have concerned execs at the company.
The deal would have been worth at $2.3 billion, as reported by Variety.
By joining forces with DreamWorks Animation, Hasbro would have had the means of increasing its film and TV presence, while in theory, DreamWorks would have benefited from a more diverse revenue stream via Hasbro. DreamWorks’ properties include Shrek, Kung Fu Panda, and Madagascar. Hasbro, meanwhile, owns such toy brands as Transformers and G.I. Joe.
The merger will increase University Games’ domestic revenue by approximately 20 percent. Additionally, the Briarpatch licenses will augment University Games’ Colorforms business. University Games will begin shipping Briarpatch products this month.
John Donofrio and Martine Redman founded Briarpatch in 1991, and Donofrio will join University Games in a consulting role.
Genius Brands International Inc. and A Squared Entertainment LLC will merge to form an intellectual property (IP) and multimedia content creation and distribution company focused on branded content with a purpose for kids. The assets and experience of both companies will be consolidated under the Genius Brands International banner.
Andy Heyward, formerly CEO of DIC Entertainment and co-president of A Squared Entertainment, will assume the role of Chairman and CEO of Genius Brands International. Amy Moynihan Heyward, formerly co-president of A Squared Entertainment, will serve as president. Klaus Moeller, currently CEO of Genius, will become vice president of special markets, and will continue with the company as a member of its board of directors.
The company will utilize its combined strengths to build upon its unique “content with a purpose” positioning. In addition to producing original content with subject matter experts, the company will develop interactive digital entertainment in all formats including broadcast, online, mobile, tablets, and more. A comprehensive consumer products program will be created to extend the learning into other areas outside of digital media.
Andy Heyward is a multi-Emmy Award-winning producer of children’s entertainment. He has produced more than 5,000 episodes of award-winning children’s programs, including Inspector Gadget, Alvin and the Chipmunks, G.I. Joe, Hello Kitty’s Furry Tale Theatre, and Sonic the Hedgehog. Amy Moynihan Heyward is a brand-marketing executive who has spent more than 20 years managing, creating, and launching brands with a focus on kids.