Care Bears, Strawberry Shortcake Sell For $195M

Law360, New York (July 23, 2008, 12:00 AM EDT) -- American Greetings Corp. has sold the rights to two of its nostalgic sets of colorful cartoon characters, settling a lawsuit that alleges DIC Entertainment Corp. breached a contract allowing it to market the popular Strawberry Shortcake.

Cookie Jar Entertainment – which is acquiring DIC – has agreed to pay $195 million for the Care Bears and Strawberry Shortcake properties, which gained particular notoriety among children in the 1980s.

The Canadian company has also acquired Sushi Pack, a new cartoon created by Studio Espinosa and co-produced by...
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