Well, you heard it here first.
Back on February 2nd, as part of my “Damage Control, Disney Style” article, I mentioned that the Walt Disney Company was making yet another attempt at acquiring the Jim Henson Company. Well — yesterday — after more than a decade of trying, Mickey finally consummated his marriage with the Muppets.
What surprised a lot of folks in the entertainment industry was the way that this deal actually went down. With the Henson family not selling off the entire Jim Henson Company to Disney. But — rather — just the Classic Muppets, the Muppet Babies and the characters from the popular Disney Channel series, “The Bear in the Big Blue House.”
No Fraggles. No “Farscape.” No characters from “Labyrinth” or “The Dark Crystal.” And certainly no “Sesame Street” characters (which were sold off to Sesame Workshop back in December 2000 by the Henson Company’s previous owners, EM.TV and Merchandising AG). Just Kermit and Bear and friends.
Given that the Muppet characters have — for almost 50 years now — been so closely associated with Jim Henson and his legacy, one wonders how there can actually be a Jim Henson Company without Miss Piggy and her pals on board. But it sounds like Brian and Lisa Henson, the co-chairpersons and co-chief executives of Jim Henson Co., are going to try and make a go of it.
Certainly in yesterday’s press conference, the Henson kids tried to put the best possible face on this awkward situation. Particularly given that they’d just sold off the rights to Kermit, the very character that appears on the logo of the Jim Henson Company. But — in the press release — Brian Henson was quoted as saying:
“This new and very important relationship will enable our two companies to combine our respective talents and resources in ways that will fully realize the tremendous potential of the Muppet and Bear franchises. (Disney Chairman and Chief Executive) Michael Eisner’s long-standing passion and respect for the Muppets gives me and my family even more confidence in Disney as a partner.”
Of course — if I were a cynical sort — I’d suggest that the ONLY thing that Michael Eisner is passionate about these days is finding a way to divert Wall Street’s attention. To make investment analysts stop thinking of Disney’s CEO as the guy who botched the Pixar contract extension talks. But — rather — as the guy who affordably filled the creative void left by Pixar by picking up the rights to the Muppets and the “Bear” characters for basically fire sale prices.
“For how much?” you ask. Low. Ridiculously low. I’ve heard that the Jim Henson Company was in such rough financial shape that Disney was actually able to snatch up the characters, the film and television library and all the associated copyrights and trademarks for under $60 million.
By the way: Look for that info to get leaked to the press tomorrow. As part of Disney’s board of directors’ attempt to rehabilitate Eisner’s reputation. To make it appear as if Michael’s really this canny businessman (well worth keeping as the head of the Walt Disney Company) for cutting such an amazing deal.
And don’t believe the story that Michael’s reps on the board are currently circulating. About how supposedly the Muppet acquisition deal was “… actually in the works for weeks now.” If that was really the class, why didn’t Disney announce this deal last week at the company’s quarterly earnings meeting? When the Mouse so desperately needed some good news to share with the financial community?
No. This news was announced yesterday because this deal was closed yesterday. From what I hear, the people at Hollywood’s historic Chaplin Studios (Henson’s corporate headquarters) are walking around in shock. Asking “What does this mean?” Man, I wish I knew.
Getting back to the Henson family: At today’s press conference, Lisa was quoted as saying:
“In the months before his death in 1990, my father Jim Henson pursued extensive discussions with the Walt Disney Co. based on his strong belief that Disney would be a perfect home for the Muppets. As such, the deal we announced today is the realization of my father’s dream … My brothers and sisters — Brian, Cheryl, John, Heather — and I are so proud to have the Muppets living under the same roof as Walt Disney’s own timeless characters. We could not possibly be more pleased.”
My father’s dream”?! … Well … That might be news to Joan Ganz Cooney, Jim Henson’s long time friend and the co-creator of “Sesame Street.” According to Cooney, Henson — in the last months of his life — supposedly expressed some real reservations about handing his beloved creations over to the Walt Disney Company. The aggressive way that Disney’s lawyers constantly pushed him to include the “Sesame Street” characters as part of the deal had particularly reportedly bothered Jim.
“He wouldn’t even discuss how it might work,” said Cooney. But that didn’t stop Mickey’s attorneys from continuing to lean on Henson. Which is why — in the late winter of 1990 — Jim allegedly expressed his concerns to Joan that maybe it was a mistake to hand the Muppets over to Mickey.
But I guess it’s too late to raise any concerns now. According to yesterday’s press release, The Walt Disney Company and the Henson have signed a binding purchase agreement. It’s hoped that — provided that this deal can sail through the necessary regulatory clearances — that this transaction can actually close within 60 days.
Sigh
I really wish I felt better about this deal. But — given that it’s fairly obvious that the only reason that Michael Eisner made this deal NOW was that he needed something positive to talk about at next month’s shareholders meeting — this whole thing kind of rubs me the wrong way. Particularly this line in Eisner’s portion of the press conference. Where Michael said:
“We are also pleased that this transaction puts us in a position to work with the Henson Company on future projects.”
I would hate to think that Brian Henson actually sold off his dad’s legacy — this great assembly of much beloved characters — just because Michael Eisner promised the Jim Henson Company a production deal. Just so Brian could once again try his hand at directing.
Here’s hoping that I’m really wrong about all this. That this Disney / Muppet acquisition turns out to be a good thing.
I mean — to be fair — I guess I should mention that the Imagineers are absolutely thrilled that this deal finally went through. According to one WDI insider:
“Now we can finally dust off all those plans for all those great attractions and shows that Jim Henson himself had a hand in creating — ‘The Great Muppet Movie Ride,’ ‘Gonzo’s Pandemonium Pizza Parlor.’ This deal is going to be huge for Disney’s theme parks. Particularly Disney-MGM and DCA … Ohmigod! DCA! We can actually do ‘Miss Piggy’s Superstar Limo’ now!? Trust me, Jim. This is gonna be great.”
So at least some folks are happy about this deal going down. Me? I have to admit that I’m really happy that the Henson characters will now have the Mouse’s money and marketing might behind their next generation of projects. Hopefully, this means that we’re going to have some truly great new Muppet movies and TV shows moving through in the production pipeline soon.
But — at the same time — I’m troubled by the very idea of Brian and Lisa okaying this sale. Selling off their dad’s legacy like this. Particularly at a time when it’s obvious that Michael didn’t push through this deal just because Disney’s CEO was excited about all the creative possibilities involved with bringing the Muppets on board at the Mouse House. All that Eisner’s really hoping that Kermit and Co. will accomplish right now is that they’ll distract his detractors.
I’ll say this much … If you weren’t already planning on going to Philadelphia to take part in Roy Disney and Stanley Gold’s “Save Disney” shindig, then you’d better make plans to do so now. Because I can virtually guarantee you that next month’s annual shareholder meeting is now going to become a veritable Muppetfest. With Kermit making an appearance behind the podium and “The Bear in the Big Blue House” dancing on stage. While Michael crows about how the Muppets will now be able to fill the creative void left by Pixar. How ABC will now be able to use the Muppets to revitalize its ratings, etc.
Sounds like a hell of a show, doesn’t it? I know I’ll be there. I just wish I felt happier about this whole thing.
What do YOU think? Do you think that it’s great that the Walt Disney Company has finally acquired the Muppets? Or do you feel more like this Muppet fan, who chose to express his disapproval of the deal with a rather cutting t-shirt?