Chorion has sold the rights to The World of Beatrix Potter and The Octonauts to Silvergate Media, a new company backed by its former chairman Lord Alli, the Guardian reported yesterday.
Alli resigned from Chorion in August
after the business failed to renegotiate banking deals to alleviate its debts.
Chorion currently has a total of about £70 million in debt, and interest payments are likely to rise from £31m to £35m next year, an unmanageable amount.
The deal with Silvergate marks the first sale of the company's properties, which include Mr. Men and Little Miss, Paddington, Olivia, Agatha Christie and Raymond Chandler.
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