The big Icelandic company LazyTown is preparing new series and filming should start in February, 2006. The project is not cheap, and the representatives of LazyTown therefore had to look to pension funds and wealthy individuals for financing. Baug and Gaum are among the shareholders in the company and a closed meeting of investors was held last week regarding the project.
LazyTown is currently shown in around 43 countries around the world. The company is flourishing and has produced, in collaboration with the world-famous toy brand Fisher Price, products that have been launched in the United States.
“Not yet” says Skarphéðinn Berg Steinarsson, managing director at Baug Group when he was asked if any funds had returned as a result of Baug’s investment in LazyTown.
Proud shareholders
Baug owns about two percent of the company, while Gaum owns about twenty percent of LazyTown. Both companies are mostly owned by Jón Asgeir Jóhannesson and his family.
“The government are just proud shareholders in the company, participants in this. When people invest capital in a project like this, they do so in the hope that it will turn out well, and there is no reason to believe other than that it will pay off” says Skarphéðinn Berg about Baug’s profit on the project.
Meeting tomorrow
Last week a closed briefing for investors was held in LazyTown. There, representatives of investors, investment funds and others were introduced to the company’s plans for the new series and invited to participate in the auction of the bonds.
That auction ended on Friday and according to the DV newspaper’s sources, the board of LazyTown will meet tomorrow and review the offers that were received. LazyTown aimed to sell bonds worth 14 million US dollars, so it will be clear tomorrow if it was successful.
Invasion of the USA
Although the sale of the show’s rights has been successful, the company’s shareholders have high hopes for the sale of various merchandise related to the show in the countries where it is broadcast.
Icelanders got a taste of these products and kids could wear LazyTown sneakers, which were available in stores in this country. LazyTown is now targeting the United States and has already launched various products related to the shows in that country.
Fisher Price
LazyTown has signed an agreement with one of the largest toy manufacturers in the world, Fisher Price, and all toys that LazyTown plans to sell in the United States will carry the toy giant’s logo.
What American children can now buy is, among other things, the costume of Sportacus and Stephanie. The idea of the management of LazyTown was to join the American Halloween festival, which is a big costume festival in that country.
In the United States, they have also put on sale a coloring book and LazyTown Fisher Price action figures – you can buy both Sportacus and Stephanie. They have also put LazyTown’s DVDs and CDs on sale. It is therefore clear that Magnús Scheving and Stefán Karl are going to become even more famous than they already are. From the TV screen to the toy store.
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