Date: Tue, 17 Feb 2004 17:43:24 -0500
From: Peter Kronenberg <pak-AT-carouselpuppets.com>
Subject: PUPT: Disney to buy the Muppets


http://finance.myway.com/jsp/nw/nwdt_ge.jsp?news_id=cmt-048b8520&feed=cmt&date=20040217

The Walt Disney Company and The Jim Henson Company Sign Agreement for 
Disney to Buy the ``Muppets'' and ``Bear in the Big Blue House''


Tuesday February 17, 4:36 PM EST

BURBANK & HOLLYWOOD, Calif., Feb 17, 2004 (BUSINESS WIRE) -- The Walt 
Disney Company 
(<http://finance.myway.com/jsp/nw//jsp/qt/full.jsp?time=0&symbol_search_text=DIS>DIS) 
and The Jim Henson Company today announced that they have entered into an 
agreement under which Disney will acquire the beloved "Muppets" and "Bear 
in the Big Blue House" properties from Henson.

The transaction 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. The parties have signed a binding purchase 
agreement and expect the transaction to close within two months, subject to 
receiving the necessary regulatory clearances. The transaction does not 
include the "Sesame Street" characters, such as Big Bird and Elmo, which 
are separately owned by Sesame Workshop. The deal also includes 
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.

Brian Henson, who with his sister Lisa is co-chair and co-chief executive 
officer of The Jim Henson Company, said, "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."

Lisa Henson said, "In the months before his death in 1990, my father Jim 
Henson pursued extensive discussions with The Walt Disney Company based on 
his strong belief that Disney would be a perfect home for the Muppets. As 
such, the deal we announced today is the realization of my father's dream, 
and ensures that the Muppet characters will live, flourish and continue to 
delight audiences everywhere, forever. My brothers and sisters -- Brian, 
Cheryl, John, Heather -- and I are so proud to have the Muppets living 
under the same roof as Walt Disney's own timeless characters. We could not 
possibly be more pleased."

"Since the time I worked with Jim Henson on the first Muppets TV special in 
the 1960s, it was obvious to me that his characters would make a deep 
imprint on the hearts of families worldwide, and this announcement is the 
culmination of a long-time desire to welcome them into The Walt Disney 
Company," said Michael Eisner, Disney chairman and chief executive officer.

"Kermit and Miss Piggy 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 the 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 assets. We are also pleased 
that this transaction puts us in a position to work with the Henson company 
on future projects," Mr. Eisner said.

Disney, which owns broadcast and cable networks reaching over 120 million 
households worldwide, operates or licenses theme parks on three continents, 
and offers home video and consumer products worldwide, is planning to 
re-launch the Muppets with new TV specials and series. Disney also expects 
to expand and enhance the global licensing and home video initiatives based 
on this new production for the Classic Muppets, the infant/preschool 
property Muppet Babies, and Bear in the Big Blue House.

The Jim Henson Company, which was purchased by the Henson family in July 
2003 from the German media company EM.TV, will retain 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 extensive film and television library, including "Fraggle Rock," 
"Farscape," "Dark Crystal," "Labyrinth," "Storyteller," "The Hoobs," and 
various other properties. The Jim Henson Company will also actively pursue 
partnerships and other strategic arrangements to exploit these and other 
existing and new properties and to build their value over the long term.



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