American Greetings Buys Part of TV Firm
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American Greetings Corp., a 100-year-old greeting-card company, said it bought a major stake in Hatchery, which develops and produces family and children’s entertainment. Terms were not disclosed.
The partnership will enable American Greetings, creator of Care Bears and Strawberry Shortcake, to use its characters in Hatchery’s films, videos and TV shows.
Closely held Hatchery, which is co-owned by Mandalay Entertainment Group, will use American Greetings’ 600 stores and 35,000 greeting-card retail locations to sell products.
Shares of Cleveland-based American Greetings rose 2 cents to $27.48 on the NYSE.
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