Magnús Scheving buying back all the properties of LazyTown

Magnús Scheving hefur keypt allar eignir LazyTown frá Warner Bros, …

Magnús Scheving hefur keypt allar eignir LazyTown frá Warner Bros, Discovery. Ljósmynd/Aðsend

Magnús Scheving, the actor and author of LazyTown, has bought all of LazyTown’s properties.

The announcement states that the actor has agreed with Warner Bros., Discovery, through the investment company LZT Holding ehf. to purchase all TV programs, brands, and intellectual property rights of LazyTown.

“It is a great honor to secure the purchase of LazyTown and a pleasure to bring my company back home. It is also a great pleasure to be able to contribute to the improvement of children’s health around the world once again,” says Magnús Scheving in the announcement.

Turner Broadcasting acquired the company in 2011

Turner Broadcasting bought the company behind LazyTown in 2011 for nearly ISK 2.8 billion, whereas previously Magnús Scheving and his wife Ragnheiður Melsteð had a 40% stake in the company.

Scheving continued to manage the company along with other executives who remained in their positions.

It was agreed that a series of 26 episodes would be produced at a cost of more than ISK 25 million, about ISK three and a half billion.

The series has been awarded the BAFTA Television Award and has been distributed in 170 countries reaching 500 million households. The company has also created hundreds of jobs over the 26 years it has operated in Iceland.

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