DIC reaches for Cookie Jar

FROM VARIETY: Kids media company strikes deal with programmer

By Daniel Frankel of Variety -- Video Business, 6/23/2008

JUNE 23 | FROM VARIETY: Cookie Jar Group, a privately held Canadian children’s entertainment and education company, has cut a $31 million deal to merge with kidvid titan DIC, the programmer and merchandiser of such successful children’s properties as Strawberry Shortcake.

But the deal may face a snag. American Greetings, which owns the Strawberry Shortcake character and struck a deal with DIC to handle licensing and merchandising in 2001, obtained a temporary restraining order on Friday to block the merger from going forward. Greeting card company said it has the right to approve any transfer of the Strawberry Shortcake licensing pact and that it “did not consent to the proposed sale of DIC to Cookie Jar” and was only told about the deal after DIC had agreed to the deal.

Read the full story on Variety.com.

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