Genius Sells 'Baby' Brand Back to Creators17 Jan, 2006 By: Jessica Wolf
Genius Products Inc. is all grown up.The company announced today it has sold back the “Baby Genius” brand that started the company to its creators, Pacific Entertainment Corporation.
The $3 million deal, which includes worldwide rights to “Baby Genius,” “Wee Worship” and a production agreement for “Little Tikes,” allows San Diego-based Genius to remain the exclusive distributor of future DVD and CDs from Baby Genius' preschooler-oriented product lines.
“As creators of the “Baby Genius” brand, Pacific Entertainment is best suited to realize the brand's fullest potential through a concentrated creative effort that is certain to yield an even better preschool property for children, parents and retailers,” said Trevor Drinkwater, Genius CEO, as the company released details of the sellback deal.
Genius has elevated its stature as an independent film distributor of late, purchasing the Wellspring library of titles and inking a distribution deal The Weinstein Company headed up by former Miramax moviemaking powerhouse brothers Harvey and Bob Weinstein.
Pacific is glad to have the “Baby Genius” brand back, executives said.
“As Genius focuses in on its new wealth of top independent and mainstream titles, we intend to develop these preschool brands across all product categories in order to capitalize on Genius Products' increasing distribution capabilities and market share,” said Klaus Moeller, CEO of Pacific Entertainment.
Pacific plans to release two new “Baby Genius” DVDs and two new “Little Tikes” DVDs this year in addition to new music CDs.