DIC Management To Buy DIC
Created 09/24/2000 - 23:00
files/pictures/picture-35.jpgDIC Entertainments CEO Andy Heyward is set to purchase DIC from owner Walt Disney Co. The deal backed by investment firms Bain Capital and Chase Capital Partners is valued in the nine digits. Disney acquired a majority stake of DIC in 1995 when it purchased ABC/Capital Cities. In 1986, Heyward purchased the toon house from France-based CLT and retained a small minority interest in the firm after ABC/Capital Cities obtained the majority share in 1993. DIC television properties include INSPECTOR GADGET (Disney co-produced a live-action feature version), G.I. JOE, ALF, DENNIS THE MENACE, BILL & TEDS EXCELLENT ADVENTURES, WHERES WALDO and WHERE ON EARTH IS CARMEN SANDIEGO. Heywards purchase of DIC is seen as the companys way of stepping out from Disney Television Animations shadow and regaining its foothold in the industry.