Walt Disney Co. buys Muppets

? Kermit and Miss Piggy are joining Mickey and Minnie, capping a 14-year effort to bring the Muppets into the Walt Disney family.

The Walt Disney Co. said Tuesday it would buy the “Muppets” characters, including Kermit, Miss Piggy and others, as well as the “Bear in the Big Blue House,” franchise from The Jim Henson Co.

Financial terms of the deal were not disclosed.

The arrangement, which took about six months to negotiate, represents a coup for Disney chief executive Michael Eisner, who has been attacked in recent months as an entrenched, weak manager unable to lead the entertainment giant effectively.

“Michael Eisner’s long-standing passion and respect for the Muppets gives me and my family even more confidence in Disney as a partner,” said Brian Henson, who with his sister Lisa, is co-chairman and co-chief executive of The Jim Henson Co.

The announcement is also a much-needed boost for Disney, which has been under attack for weeks from ex-board members and is the subject of a takeover bid from cable television giant Comcast Corp.

The deal culminates a lengthy pursuit of the Muppets by Disney, which nearly acquired the characters in 1990. The deal fell apart shortly after the death of company founder Jim Henson that year.

The company then was bought by German media company EM.TV, which sold it back to the Henson family last year.

The deal does not include the Sesame Street characters, such as Big Bird and Oscar the Grouch, who were sold earlier by EM.TV to the Sesame Workshop.

Disney plans to make new television shows, video games, movies and other products with the existing characters as well as develop new characters in the coming years.

Kermit The Frog addresses graduates at Southampton College of Long Island University in this May 19, 1996, file photo. The Walt Disney Co. said Tuesday it would buy the Muppets characters, including Kermit, from The Jim Henson Co.