by Phil Vischer had something interesting to share on his blog today:
Well… this is interesting! A story ran in the London Sunday Times yesterday claiming Entertainment Rights was considering selling off Big Idea. The story says new CEO Nick Phillips wants to reduce debt by "selling some of the less profitable areas of the group," implying, of course, that Big Idea is one of those "less profitable" areas. I couldn’t find the original story, but here is a summary.
How much will they be willing to sell it for? How many interested buyers will they find out there? Stay tuned… this could get very interesting…
The summary states:
Entertainment Rights, the company behind Basil Brush and Postman Pat, is considering the sale of its American children’s character assets, Big Idea, as it looks to reduce £107 million worth of debt.
Nick Phillips, the new chief executive of the business, believes that selling some of the less profitable areas of the group will enable the company to reduce its debt considerably.
Big Idea, the company behind the children’s show such as Veggie Tales, became part of Entertainment Rights through the acquisition of Classic Media in 2006. The move was an attempt to diversify beyond the pre-school market.
So what does this mean? It could mean that the Veggies may get a new owner. It may mean that this could be the end of the Veggies. It certainly explains why it took so long to get Huckleberry Larry.
One wonders if God could be giving the Veggies back to Phil?
