After losing an $11 million lawsuit, Big Idea Productions Inc., creator of VeggieTales, announced that it filed for bankruptcy and sold its copyrights to Classic Media LLC.
"To call this last year difficult is an understatement," said Big Idea founder and CEO Phil Vischer. "In the midst of VeggieTales' success [including the release last November of the motion picture Jonah: A VeggieTales Movie], we made several key strategic errors that led us to this point."
Vischer told Christian Retailing Magazine, "We got ourselves upside down financially when everything was working wonderfully. When things were doing so well, I thought that was God wanting us to expand, so we grew like crazy. Now I think it was more me having all these great ideas in my head and being so excited that I wanted to do them all at once."
