U.K. children and family specialist Entertainment Rights is reportedly looking to sell one of its U.S. businesses in an attempt to reduce a $200 million debt, per VARIETY.
Big Idea, the Nashville, Tennessee-based studio best known for VEGGIE TALES, is being lined up for a possible sale by Entertainment Rights' new CEO Nick Phillips. A spokesman for Entertainment Rights, however, told VARIETY that reports suggesting that Big Idea may soon be for sale was "speculation."
Big Idea has been part of Entertainment Rights since 2007, when Classic Media was bought by Entertainment Rights.
Although it has been profitable in the past, the company, which produces content for the U.S. Christian market, needs investment and is not one of the business' more profitable parts.
Phillips took over for Entertainment Rights' founder Mike Heap in March following a bad year on the U.K. stock market when the combo's price fell 73 percent.
He is leading a "strategic review" with one option involving selling Big Idea, whose show VEGGIE TALES celebrated 15 years last month.
Entertainment Rights is worth more than $100 million. Its properties also include POSTMAN PAT and BASIL BRUSH.
