National Lampoon Acquires Burly Bear Network
Posted on September 6, 2002
National Lampoon, the company which created the National Lampoon magazine and National Lampoon's Animal House, has acquired the assets of Burly Bear Network, an on-campus college television network. The purchase includes the television network, which is distributed exclusively to colleges and universities, as well as a library of college programming targeted directly at the 18 - 24 year old demographic. The Hollywood Reporter reported that Burly Bear laid off 60 employees when it shut down in July of this year.
The purchase price was a combination of cash and stock. Additional financial details were not disclosed. Burly Bear Network is a privately held company. Its primary shareholders were Broadway Video/Lorne Michaels and Constellation Ventures.
"Acquiring the distribution system of Burly Bear gives National Lampoon control over the distribution of its programming to its target audience," said James P. Jimirro, the company Chairman and CEO. "For over 32 years, National Lampoon has been producing comedy, whether in print, theatre, television, audio, or on film, created primarily for the college-age audience. This is a fantastic opportunity to control the creation and distribution of our product."
The combination of National Lampoon's original programming, some of which is featured on nationallampoon.com, combined with Burly Bear's library of programs, and the network's wide distribution system, returns National Lampoon to prominence on college campuses. In the 1970s and 80s, National Lampoon was the most widely read magazine on college campuses. The company intends to rapidly develop original National Lampoon programming, both animated and live action, targeted to the college-age demographic. National Lampoon is active in a broad array of entertainment activities, including feature films, television programming, interactive entertainment, home video, comedy audio CDs and book publishing.