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Viacom to buy Garfield for Nickelodeon portfolio

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Viacom to buy Garfield for Nickelodeon portfolio

Viacom Inc. has agreed to acquire comic studio and production company Paws Inc., which holds global intellectual property rights to the Garfield and U.S. Acres franchises.

The acquisition, which is expected to close in the upcoming weeks, will see Viacom add Garfield to its Nickelodeon portfolio of properties that already includes SpongeBob SquarePants, PAW Patrol and Teenage Mutant Ninja Turtles.

Following the completion of the acquisition, Nickelodeon plans to develop a new Garfield animated television series. Additionally, the global merchandising rights to Garfield will be managed by Viacom Nickelodeon Consumer Products, including the property's existing portfolio of licensees, according to an Aug. 6 news release.