Ninja Turtles snapped up by Nickelodeon

Nickelodeon acquires the global rights of the `Teenage Mutant Ninja Turtles.`

New York: Viacom`s Nickelodeon has acquired the global rights to the Teenage Mutant Ninja Turtles kids` entertainment franchise from the Mirage Group and 4Kids Entertainment for approximately $60 million.It unveiled plans Wednesday to develop a new CG-animated TV series based on the franchise, expected to premiere in 2012, and a new feature film in partnership with Viacom`s Paramount Pictures unit, also planned for 2012.

The company`s goal is to reintroduce the 25-year-old franchise, centered on a quartet of crime-fighting turtles, to existing and potential new fans. The deal also gives Nickelodeon all merchandising rights. It will continue to work with the franchise`s long-term toy partner, Playmates Toys. As a result of the deal, the CW network will next summer lose its animated "Teenage Mutant Ninja Turtles" series, jointly produced by 4Kids and Mirage. It will continue to air on "TheCW4Kids" Saturday morning programing block through August 31, 2010. Bureau Report