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Alvin and the Chipmunks proprietor seeks sale for $300 million: sources

Alvin and the Chipmunks pose on their simply unveiled Hollywood Stroll of Fame Star throughout a ceremony in Hollywood, California on March 14, 2019 in celebration of their sixtieth anniversary.

Frederic J. Brown | AFP | Getty Photos

Bagdasarian Productions, proprietor of the Alvin and the Chipmunks franchise, is looking for a purchaser, in response to individuals with information of the matter, because it seems to be to money in on the premium costs that media corporations and personal fairness buyers have been prepared to pay for mental property.

The corporate, owned and operated by Ross Bagdasarian Jr. and his spouse, Janice Karman, has held talks with a number of potential consumers, together with ViacomCBS, however hasn’t come to an settlement on phrases, stated the individuals, who requested to not be named as a result of the negotiations are non-public.

Bagdasarian Productions is working with a monetary advisor and has been in search of a value of about $300 million, two of the individuals stated.

Streaming companies equivalent to ViacomCBS’ Paramount+, WarnerMedia’s HBO Max, and Netflix have been on the hunt for mental property to bulk up their subscription choices. Netflix stated in September it acquired the catalog of Roald Dahl, writer of kids’s books together with “Charlie and the Chocolate Manufacturing facility,” “James and the Big Peach” and “Matilda.” Bloomberg reported the deal price greater than $700 million.

Non-public fairness companies together with Carlyle, Windfall Fairness, Apollo World and Blackstone have additionally expressed curiosity in buying content material.

Alvin and the Chipmunks was created by Bagdasarian Jr.’s father, Ross Bagdasarian Sr., in 1958 as a youngsters’s music act. “The Alvin Present” started in 1961, that includes the three animated singing chipmunks — Alvin, Simon and Theodore — with sped-up voices to offer them their trademark high-pitched sound. A number of iterations of TV reveals and movies adopted, together with an “Alvin and the Chipmunks” film in 2007 and three sequels.

Bagdasarian Jr. and Karman run the franchise from their residence in Santa Barbara, California. They engaged monetary companies to promote the corporate about 4 years in the past, in response to an individual aware of the matter, however in the end scrapped these discussions.

CNBC known as the telephone quantity on the Bagdasarian Productions Fb web page to hunt remark. The one that took the decision stated, “There isn’t any one right here that may communicate to you about that” after which hung up.

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Written by News Desk

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