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Alvin and the Chipmunks owner seeks sale for $300 million: sources

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Alvin and Chipmunks pose with their newly unveiled Hollywood Walk of Fame Star at a celebration in Hollywood, California on March 14, 2019, to celebrate their 60th Anniversary.

Frederic J. Getty Images| AFP | Getty Images

Bagdasarian Productions owns the Alvin and the Chipmunks Franchise. According to those familiar with the matter, it is searching for a buyer as it seeks to capitalize on the high price media companies and private equity investors will pay for intellectual property.

This company is operated and owned by Ross Bagdasarian Jr. and his wife, Janice KarmanThe company has been in contact with several buyers potential, which includes ViacomCBSThe people said that they have not reached an agreement, but did say so.

Bagdasarian Productions has been working with a financial advisor and is looking for an estimated price of $300 million. Two people confirmed this.

You can stream services such as ViacomCBS’sParamount+, WarnerMedia’s HBO Max and NetflixThey have spent a lot of time looking for intellectual property that could be used to increase their subscriptions. Netflix stated in September that it acquired the catalog of Roald DahlAuthor of many children’s titles, including “Charlie and the Chocolate Factory,” James and the Giant Peach”, and” Matilda.” BloombergThe deal is reported to have cost over $700 million.

Blackstone, Providence Equity and Apollo Global, all private equity companies, have expressed an interest in content acquisitions.

Bagdasarian Jr. created Alvin and the Chipmunks in 1958 to entertain children. “The Alvin Show” began in 1961 featuring the three chipmunks — Alvin, Simon and Theodore — with sped-up voices to give them their trademark high-pitched sound. Numerous TV series and films were made, with one “Alvin and the Chipmunks” movie being released in 2007 and three more.

Bagsadarian Jr., and Karman manage the franchise out of their Santa Barbara home. According to someone familiar, they engaged financial firms about four years back to sell the company, but these discussions were ultimately abandoned.

CNBC reached the Bagdasarian Productions phone number Facebook pageFor more information, please contact us. After the person on the phone said that there was no one available to speak with you, he then hang up.

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