Saban & Konami Split 4 Kids Properties
After six rounds of bidding by Kidsco Media Ventures LLC, owned by Saban, and 4K Acquisition Corporation, owned by Konami, the two companies have agreed to a $15 million joint offer to buy out the now bankrupt 4Kids Entertainment. According to the executed Asset Purchase Agreement, Konami will acquire the 4Kids New York office including all furniture, computers, and technical equipment, and domestic rights to the Yu-Gi-Oh franchise. Konami is the master licensor & distributor of the Yu-Gi-Oh! property in Japan. Saban’s Kidsco will gain ownership of domestic master rights to the Dragon Ball, Cubix, and Sonic X licenses, and 4Kids agreement with the CW television network for Saturday Morning broadcast programming.
As part of the deal, Kidsco & 4K will both offer employment opportunities to select former 4Kids employees. The purchase will also enable 4Kids to pay-off its debts and financially restructure.
Source: In the Name of the Pharaoh Blog