Coming Soon! reports that The Walt Disney Company and The Jim Henson Company revealed today that under a new agreement, Disney will receive the Muppets and Bear in the Big Blue House properties from Henson. This new deal includes all Muppet assets, including the Kermit, Miss Piggy, Fozzie Bear, Gonzo and Animal characters, the Muppet film and television library, and all associated copyrights and trademarks, as well as all the Bear in the Big Blue House characters, television library, copyrights and trademarks. However, this new agreement does not include the Sesame Street characters, such as Big Bird and Elmo, which are separately owned by Sesame Workshop. The Jim Henson Company will continue to have all other assets of the company including Jim Henson’s Creature Shop and ownership and rights to all other characters and entertainment properties in The Jim Henson Company’s film and television library, including Fraggle Rock, Farscape, Dark Crystal, Labyrinth, Storyteller, The Hoobs, and various other properties. Brian Henson says, “This new and very important relationship will enable our two companies to combine our respective talents and resources in ways that will fully realize the tremendous potential of the Muppet and Bear franchises. Michael Eisner’s long-standing passion and respect for the Muppets gives me and my family even more confidence in Disney as a partner.”
A letter purportedly from Michael Eisner to Disney employees follows:
From: Eisner, Michael
Sent: Tuesday, February 17, 2004 4:07 PM
Subject: 2/17/2004 – Kermit & Co.
Dear Fellow Employee:
I am pleased to share some very exciting news for our company, as today we announced an agreement to acquire the Muppets and Bear in the Big Blue House from The Jim Henson Company.
Disney and the Muppets have always represented a perfect fit, as both offer distinct and wonderful characters that are embraced by families around the world. Over the years, our two companies have undertaken a number of successful projects together, including the fantastic Muppet 3D attraction at Disney-MGM Studios and Disney’s California Adventure, as well as several films and TV specials. Also, Bear in the Big Blue House has been a popular mainstay on Disney Channel. In 1990, we were in negotiations to acquire the Muppets when Jim Henson tragically died. Now, this marriage made in family entertainment heaven is finally proceeding to the altar.
Our company and the Henson Company have signed a binding purchase agreement and expect the transaction to close within two months, subject to receiving the necessary regulatory clearances. Just so you know, it will not include the “Sesame Street” characters, such as Big Bird and Elmo, which are separately owned by Sesame Workshop. The deal does include non-exclusive production and consulting agreements under which Henson will develop potential new programming featuring the “Muppets” and “Bear in the Big Blue House” for Disney.
This new relationship has added personal meaning for me, since I worked with Jim Henson on the very first Muppets TV special in the 1960s. It was obvious at the time that he was a creative genius and, as with another creative genius – Walt Disney – his creations continue to live on past him.
Kermit, Miss Piggy and the rest of the Muppet gang are well-known and beloved around the world and will have an opportunity to be seen and loved by millions more well into the future through Disney’s distribution channels at home and abroad, including home video, family television programming and consumer products, in addition to their existing theme park presence at Walt Disney World and Disneyland Resort. We are honored that the Henson family has agreed to pass on to us the stewardship of these cherished characters. We are also pleased that this transaction puts us in a position to work with the Henson Company on future projects.
This great acquisition provides just one more indication of the strength and growth potential of The Walt Disney Company as well as the worldwide appeal of the extraordinary Disney family brand.
Michael
