Alvin and the Chipmunks Owner Reportedly Selling the Franchise

AbraxasNovember 4, 2021

Bagdasarian Productions is reportedly seeking buyers for its valuable intellectual property: the Alvin and the Chipmunks franchise.

The company behind Alvin and the Chipmunks may soon be under new ownership, according to anonymous inside sources.

Per CNBC, Bagdasarian Productions is seeking a buyer who will acquire the rights to the company’s intellectual properties, including Alvin and the Chipmunks. The source of this information wishes to remain anonymous, though did divulge that the company is expecting about $300 million if a deal is struck.

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Bagdasarian Productions is owned and operated by Ross Bagdasarian Jr. — whose father created Alvin and the Chipmunks in 1958 — and Janice Karman. Throughout the decades, the company has produced multiple television and film adaptations of the singing chipmunks, including 20th Century Fox’s live-action film series, which started in 2007. Bagdasarian Jr. and Karman allegedly spoke to financial firms about selling the company in 2017, but no deals were struck at the time. (It should be noted that following Disney’s acquisition of Fox, two of the four live-action Chipmunks movies are currently streaming on Disney+. However, while Disney does own the rights to these movies, it does not own the Chipmunks IP itself.)

These rumors come amidst a frenzy of streaming services purchasing up intellectual property. Netflix recently acquired The Roald Dahl Company in a nearly $700 million deal. The streaming company has announced its plans to create a universe of on-screen adaptations of the beloved children’s author’s stories.

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Streaming services have seen massive success in recent years, which has only been amplified by the coronavirus (COVID-19) pandemic. During the pandemic, audiences have increasingly turned to streaming services for entertainment, both for streaming-exclusive content and for films that have received simultaneous releases both in theaters and online via streaming services. Notably, Halloween Kills was available on Peacock and in theaters on the day of its release. The hybrid-release was deemed a massive success when Halloween Kills had one of the most financially successful opening weekends of the pandemic-era. Peacock is one of many streaming services that has seen great success since the start of the pandemic.

“Everything on Peacock is heading in the right direction,” said NBCUniversal CEO Jeff Snell. “There’s really nothing, from a trajectory perspective, that’s any different than it was last quarter or the quarter before. All metrics are pointed up. Our usage continues to be great, our mix of users continues to be great. We added a few million more subs, more monthly active users.”

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Despite the massive success seen by many streaming services, some media companies remain steadfast in their decision to keep separate from streaming. Sony, for example, announced that its major blockbuster films would not release to streaming services and instead would maintain an exclusive theatrical release.

Bagdasarian Productions has allegedly been in talks with several companies who are interested in obtaining Alvin and the Chipmunks, such as ViacomCBS. No official announcement has been made regarding the sale of the company.

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Source: CNBC

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