The Harvey Entertainment Co. signed a letter of intent Tuesday to acquire PM Entertainment Group, a privately owned producer and distributor of motion pictures for homevideo, television and Internet broadcasting.
Harvey expects the transaction to close before Dec. 15.
With estimated revenues in excess of $30 million, PM Entertainment has production and post-production capabilities and a library of more than 150 films.
Harvey prexy Rick Mischel will continue to lead the company, focusing on developing and producing children’s and family product based on the Harvey Classic Characters and new character acquisitions for worldwide distribution.
PM Entertainment, which will be operated as a separate, wholly owned division of Harvey, produced and distributed the TNT television series “L.A. Heat.” It also served as distributor of “Hollywood Safari” to the Discovery Channel and is a major supplier of product for HBO World Premiere movies, USA Network and other broadcasters.
The Harvey Classic Character brands include Casper, the Friendly Ghost, superhero Spyman, Ritchie Rich, Baby Huey, Little Audrey, Wendy the Witch, Herman and Katnip.