Walt Disney Agrees to Sell DIC Entertainment

Walt Disney Co. agreed to sell DIC Entertainment to the unit’s chief executive, Andy Heyward, and Boston-based investment firm Bain Capital Inc., letting the animation studio go independent. Terms weren’t disclosed. DIC, known for such characters as Inspector Gadget, Madeline and Sonic the Hedgehog, will continue to have a relationship with Disney. Burbank-based Disney renewed “Sabrina, the Animated Series” for its ABC broadcast television network and ordered 26 new episodes of “Madeline” for cable TV’s Disney Channel. Disney shares closed off 69 cents at $30.19 on the New York Stock Exchange.