DIC Enterprises, Italians in $150-Million TV Deal

DIC Enterprises Inc., a Burbank producer of children’s television programming, said it entered a $150-million, five-year co-production agreement with Reteitalia, an Italian children’s TV producer. The two companies will co-produce more than $20-million worth of animated series and specials for both the American and European markets during the first year of the agreement, DIC said, with subsequent annual budgets likely to exceed $30 million.

DIC plans to set up a European subsidiary within the next two months to supervise projects created by the partnership. One of the first programs to be produced under the new agreement is the “New Kids on the Block” series for ABC. Both Americans and Europeans will be tapped to work on the joint productions, DIC said.

DIC currently has 12 series in production for debut on network, cable and syndicated television this fall.