DreamWorks Helps Relaunch Infamous 'Noddy' Character
Toy maker Spin Master Ltd. obtained an exclusive licensing agreement with DreamWorks Animation Skg Inc (NASDAQ: DWA) related to a pending French children's television series.
Financial terms weren't disclosed and DreamWorks traded recently at $27.83, off $0.17.
Commissioned by France Television, the series, to be called "Noddy, Toyland Detective," is slated to air on the French TV network France 5 in spring 2016.
Spin Master said toys related to the series will be available in the fall of 2016 and include figures, vehicles and games.
DreamWorks earlier this year said it would cut its staff by 19 percent and reduce its movie output following a string of box office disappointments.
But DreamWorks shares hit a 15-month high last week, perhaps on an analyst's upgrade.
DreamWorks Animation owns Noddy and retains additional global distribution rights and manages licensing and merchandising for the property.
The TV series will be produced by Gaumont Animation in association with DreamWorks Animation Television.
The Noddy character dates from 1949 and was created by children's author Enid Blyton.
Other products from Spin Master include Air Hogs and a card game called Bakugan.
"Spin Master is the perfect partner for our reintroduction of Noddy," Jonathan Baker of DreamWorks Animation said. "Noddy has a rich legacy around the world, and we know a whole new generation of children will be excited to join the new Noddy on his many adventures onscreen and off."
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.