4Kids Ent. Inc. and Pokemon USA Inc. announced that they have agreed not to renew the POKEMON representation agreement set to expire on Dec. 31, 2005. Beginning in 2006, Pokemon USA Inc.'s in-house licensing group will handle all POKEMON licensing outside of Asia.
"We felt it was in the best interest of the POKEMON property for Pokemon USA Inc., to assume all aspects of licensing," said Akira Chiba, president of Pokemon USA Inc. "This was a brand management decision. We would like to thank 4Kids for all of its great work over the last eight years in helping to establish POKEMON as one of the leading children's brands in the world."
"4Kids has had a successful eight-year exclusive relationship with the POKEMON property that will be expiring at year end," said Alfred R. Kahn, chairman/ceo of 4Kids Ent. "Over the next month, 4Kids will assist Pokemon USA, Inc., in its transition to in-house representation. We wish Pokemon USA much success going forward."
Under the terms of the expiring Pokemon USA/4Kids representation agreement, 4Kids will continue to receive commissions for the next several years on payments made under existing POKEMON license agreements whose term expires after Dec. 31, 2005. It is expected that commissions earned by 4Kids from the POKEMON property will decline over the course of the next several years. 4Kids will also continue next year to produce the current eighth season of the POKEMON television episodes.
Headquartered in New York City with international offices in London, 4Kids Ent. Inc. is a global provider of children's entertainment and merchandise licensing. 4Kids, through its wholly owned subsidiaries, provides domestic and international merchandise licensing; television, film, music and home video production and distribution; media planning and buying; product development; and website development. For further information, visit www.4KidsEntertainment.com and www.4Kids.TV.
Pokemon USA Inc., a subsidiary of The Pokemon Co. in Japan, manages and oversees the property outside of Asia, which includes licensing, promotions, publication distribution and marketing of the trading card game, an animated TV series, movies, the official POKEMON website, and pokemoncenter.com an e-commerce site. For more information, visit www.pokemon.com
Rick DeMott
Animation World Network
Creator of Rick's Flicks Picks
