JAKKS Pacific Signs Licensing Deals With HIT Entertainment for TV Games(TM)
MALIBU, Calif., June 22 /PRNewswire-FirstCall/ -- JAKKS Pacific, Inc. (Nasdaq: JAKK) announced today licensing agreements with leading preschool entertainment producer HIT Entertainment to market and distribute multiple Plug It In & Play TV Games® titles and GAMEKEY(TM) expansion packs based on HIT Entertainment's internationally renowned children's brands, including The Wiggles®, Barney(TM), Bob the Builder(TM), Thomas & Friends(TM) and Angelina Ballerina(TM).
The Plug It In & Play TV Games products are gaming systems that contain multiple games in one single controller and plug directly into the A/V jacks of any standard television. The TV Games(TM) GAMEKEY expansion pack is the next-generation innovation for the award-winning TV Games product line. GAMEKEY expansion packs offer users the opportunity to add more games made exclusively for their favorite TV Games controllers, and will cost significantly less than the price of a TV Games unit.
"JAKKS is expanding its line-up of preschool-targeted TV Games products," said Jennifer Richmond, senior vice-president of licensing and media, JAKKS Pacific, Inc. "HIT's roster of top preschool properties such as Bob the Builder and The Wiggles offers just the types of programming and product that moms love and encourage their children to watch and play with. We look forward to having a strong reception at retail for our TV Games titles based on these beloved brands."
"We are thrilled to be working with JAKKS Pacific on the Plug It In & Play TV Games line based on HIT's leading preschool brands," said Jamie Cygielman, Senior Vice President, Consumer Products, HIT Entertainment. "HIT's portfolio of preschool properties provides ideal content for such an innovative product."
The Plug It In & Play TV Games product line based on HIT Entertainment's leading preschool content is expected to launch in North America in 2006 with a suggested retail price of approximately $20.00. For more information on JAKKS Pacific's TV Games line, please visit www.tvgames.com.
About HIT Entertainment:
Established in 1989, HIT Entertainment is one of the world's leading preschool children's entertainment producers and rights owners of internationally renowned children's brands, such as Bob the Builder(TM), Barney(TM), Thomas & Friends(TM), Angelina Ballerina(TM) and Pingu(TM). HIT acts as a representative for The Wiggles® in the US, UK, and Canada, and as worldwide representative for The Jim Henson Company's library of classic family brands, including Fraggle Rock(TM). With operations in the US, UK, Canada, and Japan, the company's activities span television production and distribution, home entertainment, consumer products, publishing and live events. HIT is committed to providing enduring entertainment that supports the values of devoted caregivers and empowers young children with a positive approach to life. For more information about HIT Entertainment, please visit www.hitentertainment.com.
About JAKKS Pacific, Inc.:
JAKKS Pacific, Inc. is a multi-brand company that designs and markets a broad range of toys and consumer products. The product categories include: Action Figures, Art Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys, Electronics, Dolls and Pet Toys and Accessories. The products are sold under various brand names including JAKKS Pacific®, Play Along®, Flying Colors®, Road Champs®, Child Guidance®, Pentech®, Trendmasters®, Toymax®, Funnoodle®, Go Fly a Kite®, Color Workshop®, Pet Pal(TM) and Plug It In & Play TV Games(TM). The Company also participates in a joint venture with THQ Inc. that has exclusive worldwide rights to publish and market World Wrestling Entertainment® video games. For further information, visit www.jakkspacific.com or www.tvgames.com.
This press release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The forward-looking statements contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.
CONTACTS:
Genna Goldberg
JAKKS Pacific, Inc.
(310) 455-6235
gennag@jakks.net
John Mills
Integrated Corporate Relations
(310) 395-2215
jmills@icrinc.com