Viacom Hits Toy Giant With Lawsuit Over Financing of Nick Jr. Series

In a lawsuit filed on Monday, Viacom says it lived adult to a finish of a discount by contributing $5.2 million for a TV array formed on MGA Entertainment’s line of Lalaloopsy dolls, though that MGA unsuccessful to broach $3.5 million on a end.

The censure was filed in California sovereign justice and claims MGA, best famous for a Bratz doll line, has breached contract.

Viacom, that mostly partners with fondle companies (see a latest understanding with Hasbro), says it arrived during a co-finance agreement with MGA in 2012. Afterwards, Viacom launched a Lalaloopsy series on Nickelodeon and promote 52 episodes on Nick Jr.

The terms of a understanding had MGA profitable $9 million in 3 installments — $2 million in year one, $3 million in year dual and $4 million in year three. Viacom says it is blank many of a final year’s payment.

Late final month, MGA done a $500,000 smallest pledge payment. “However, MGA has unsuccessful to compensate a remaining $3.5 million to Viacom that is due underneath a Co-FInance Agreement,” adds a complaint.

Represented by profession Richard Kendall, Viacom now seeks damages. MGA hasn’t nonetheless responded.

Tags:
author

Author: