4Kids Entertainment to Sell Yu Gi Oh Franchise to Saban?
There’s news going around that 4Kids Entertainment is looking to sell “substantially all of [their] Yu-Gi-Oh! Related assets” to KidsCo Media Ventures, which is a company that was just recently incorporated in Delaware, but seems to have ties to Saban Capital Group. The entire Yu-Gi-Oh! Franchise is said to be going for $10 million, as per indicated in the papers filed in the US Bankruptcy Court in New York.
The documents that were filed show that KidsCo and Saban Capital Group have the same address. Some of KidsCo’s email addresses were also addressed to Saban Capital Group. Under its bankruptcy plans, 4Kids will auction off its assets in early June 2012 to qualified bidders.
As a “stalking horse bidder”, KidsCo has already set the floor price for the bidding and has bidding protections, including a fee that must be paid to them by a winning bidder. 4Kids also plans to auction the rights to the Dragon Ball Z anime series, which includes all 52 episodes of the TV series. Rumor has it that they are also going to auction off the rights to Dragonball Z Kai, as well as their Cubix Assets.