BBC Studios, the content arm of the BBC, is one of the potential buyers for the television production company that owns the rights to the popular children’s character, The Gruffalo. According to sources, this information was revealed by Sky News.
The production company, Magic Light Pictures, has garnered critical acclaim with three BAFTAs and four Oscar nominations under its belt. The sale process is being managed by Gotham Street, a specialist media deals boutique. Other interested parties are also reportedly participating in the auction due to the high quality of Magic Light’s content library, which includes works by The Gruffalo’s creators, Julia Donaldson and Axel Scheffler.
The Gruffalo has become a beloved character in Britain, with its story of a clever mouse outwitting potential predators by inventing a mythical creature. Its 2011 sequel, The Gruffalo’s Child, continued the story with the mouse using shadows to scare off a young gruffalo. Magic Light has distributed these films internationally, along with the original books, leading to significant merchandising revenues and even a theme park attraction at Chessington World of Adventures.
Aside from The Gruffalo, Magic Light has also adapted other popular books by Ms. Donaldson and Mr. Scheffler, such as Room On The Broom, Stick Man, and Zog, into films. The company was founded in 2003 by Michael Rose and Martin Pope, who are still the majority owners. Its employees and other parties also hold shares in the company.
The exact price that Magic Light Pictures is expected to fetch in the sale is currently unknown. According to the company’s filings at Companies House, it made a profit of £0.8m on a turnover of just over £9m in the year ended 31 March 2023. Industry sources believe that BBC Studios is a strong contender to acquire Magic Light, as it has been steadily expanding its portfolio of production assets over the years. The corporation currently owns labels such as Baby Cow, Firebird Pictures, and Voltage TV, as well as minority stakes in independent producers. Last year, BBC Studios also acquired a 25% stake in Mettlemouse Entertainment, which was founded by the creator of shows like Geordie Shore and Celebs Go Dating.
When contacted for comment, both BBC Studios and Magic Light Pictures declined to give a statement.
