Big Idea Productions, makers of the best-selling “VeggieTales” video series, filed for chapter 11 bankruptcy Sept. 2, as part of a deal to sell the financially troubled company.
Big Idea has agreed to sell its assets- including copyrights to “Bob the Tomato” and “Larry the Cucumber” and other “Veggie Tales” characters- to Classic Media LLC, which owns or manages media properties such as “Rocky and Bullwinkle,” “Lassie,” “The Lone Ranger” and “Rudolph the Red-Nosed Reindeer.”
Despite Big Idea’s continued popularity- eight of the top 10 selling videos in the Christian retail market are from Big Idea, including the recently released “The Ballad of Little Joe” – the company has had cash flow problems in recent years.
Last November, following the release of the motion picture “Jonah: A VeggieTales Movie,” which grossed more than $24 million at the box office, Big Idea laid off 30 employees.
Additional layoffs have cut the company’s staff from a high of 200 part- and full-time employees to a current staff of 44.
(RNS)
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