Nickelodeon has acquired the global rights to the Teenage Mutant Ninja Turtles brand from the Mirage Group and 4Kids Entertainment.
Immediately, Nickelodeon revealed plans to develop a new CG animated TV series based on the franchise, likely to premiere in 2012. Additionally, in partnership with Paramount Pictures, a new release of the TMNT feature film is also planned for 2012.
The firm has acquired all merchandising rights and will continue to work with long-standing toy partner, Playmates Toys.
"Teenage Mutant Ninja Turtles shares a comedic sensibility with the Nickelodeon DNA, with added layers of action and fantasy that have kept this property an evergreen favourite with multiple generations of audiences," said Cyma Zarghami, president of Nickelodeon/MTVN Kids and Family Group. "We are extremely happy to have the opportunity to be able to focus on this property and creatively re-introduce it to a new generation of kids."
Gary Richardson, CEO of Mirage Studios, added: "Mirage has been the proud keeper of the Turtles brand since 1984, and in 2009 we celebrated their 25th anniversary with our legions of fans. Nickelodeon is a powerhouse global brand and we are confident that the company will be a wonderful steward."
Alfred Kahn, chairman and CEO of 4Kids, continued: "We enjoyed our eight-year partnership with Mirage during which 4Kids and Mirage relaunched the Teenage Mutant Ninja Turtles franchise for a new generation of kids around the world. We will also work with Mirage and Viacom so that our Turtles' licensees can be assured of a seamless transition."