Publisher National Lampoon has acquired the assets of Burly Bear Network, one of two major television networks airing exclusively on college campuses.
Deal includes the network, which airs at more than 400 colleges and universities in the U.S., and a considerable library of programming targeted toward the 18- to 24-year-old demographic.
Price was said to have been a combination of stock and cash for Burly Bear shareholders Broadway Video/Lorne Michaels and Constellation Films. Additional financial details were not disclosed.
The new National Lampoon Burly Bear Network plans to reach as many as 3.5 million students, roughly one in four of all 18- to 24-year-old college students.