NYC-based Classic Media has appointed former AOL Time Warner exec Robert Friedman president to take its well-known properties such as Underdog, Lassie and The Lone Ranger and create new value out of them across film, television and video. Friedman will also be looking to license these characters to companies such as breakfast-cereal manufacturers for advertising and tie-ins. Friedman started his TV career in the 1980s in the original development team that created MTV, VH1 and Nickelodeon. He joined New Line in 1991 and rose to be president of New Line TV and co-chairman of worldwide theatrical marketing, licensing and merchandising. He became head of corporate marketing for AOL Time Warner after the merger of the two companies. Classic Media, formed 18 months ago, acquires and manages entertainment properties. Its portfolio includes the UPA, Harvey Entertainment and Golden Books entertainment libraries. Two script development deals are in the works for THE LONE RANGER with writers Doug Wick and Lucy Fisher for Sony Pictures and UNDERDOG with Spyglass Entertainment and Walt Disney Pictures.