LazyTown stands stronger than ever. The company's relatives are big-hearted and seem to have every reason to be optimistic about the business in the coming years. "We have just become part of the Turner group, which in turn is part of Time Warner. Those agreements were finalized late 2011, and the purpose, among other things, to bring on board an owner who has the right distribution channels," say...
Jeff Kupsky, CEO of Turner Broadcasting, says the company’s purchase of LazyTown is an extremely interesting investment. As business newspaper Viðskiptablað reported on July 21, 2011, the American television giant had made an offer for the entire share capital of LazyTown and the purchase has now become a reality.
According to a press release, Magnús Scheving will continue to work as the CEO of LazyTown as well as continue to play Sportacus. It is stated that Turner’s investment amounts to 2.5 billion ISK or $21 million.
“The opportunity for success lies in sharing Magnus Scheving’s talent and Turner’s strong position in the television market. It is on these grounds that we are ready to invest in the adventures of LazyTown – and we intend to start immediately with the production of a new series where the inhabitants of LazyTown are followed.
Fans of the show can rest assured that we will approach this important project with the same ambition as we approach the other franchises we have in the entertainment industry today. Our plans include, among other things, increased production of various consumer products related to the shows, as well as increased availability of related content online,” says Kopsky in the press release.