In the wake of Nickelodeon’s $60M buy out of Teenage Mutant Ninja Turtles from Mirage Studios last week, many have wondered about the fate of Playmate Toys which had been producing TMNT toys since the early 90s. News broke today that Playmate Toys and Nickelodeon agreed to a deal allowing Playmate to retain and secure the master global toy rights for Eastman and Laird’s indie sensation.

From the press, which you can read more about below:

Playmates Toys is proud to announce its new global master toy agreement for the Teenage Mutant Ninja Turtles with Nickelodeon & Viacom Consumer Products (NVCP). The long-term partnership allows Playmates Toys to continue its phenomenally successful, 20-year tradition with the Turtles brand, which has generated $2 billion (at retail). This new alliance also lets Playmates Toys execute on its strategy to maximize global toy rights in partnership with renowned brands that leverage entertainment across multiple-media platforms worldwide.

“We are very excited about our new partnership with Nickelodeon, which broadens the scope of creative inspiration for Playmates,” said Lou Novak, President, Playmates Toys. We are proud to continue our long-standing commitment of making innovative, fun toys based on the beloved Turtles that have entertained generations of kids around the world,” said Lou Novak, President, Playmates Toys.

“Our partnership with Playmates Toys adds another layer of excitement for us as we build upon the Turtles’ great, funny stories and characters which have withstood the test of time,” said Leigh Anne Brodsky, President, Nickelodeon & Viacom Consumer Products. “The characters have resonated around the world for 25 years, and the toys based on them are part of pop culture and continue to be relevant to today’s kids.”