Following other recent major entertainment deals Nickelodeon has acquired the Teenage Mutant Ninja Turtles for $60 million.

The heroes in a half shell were created in 1984 by independent comic artists Peter Laird and Kevin Eastman. The characters became a mega-success and rose from an independent black and white comic book to  a major brand including toys, movies, cartoons, and numerous licensed product.

According to Reuters the $60 million deal includes $9.75 million for 4Kids Entertainment, Inc. which served as the licensing agent for the Teenage Mutant Ninja Turtles and handled the television rights to TMNT. The remaining $50 million goes to the Mirage Group, which includes several other companies and Turtles co-creator Peter Laird.

Paramount Pictures, a Viacom-owned division, is planning to distribute the next TMNT film in 2012. Meanwhile, Nickelodeon is busy developing a computer animated television series, also tentatively slated to debut in 2012.

"Teenage Mutant Ninja Turtles is a property that maintains a very passionate global fan base, is rich with opportunity for a tent pole movie, and is exactly the right property for us to work together with Nickelodeon," Adam Goodman, President, Paramount Pictures, stated.

On his blog, Peter Laird explained his reasons for the sale noting primarily burnout of running a global business and his interest in returning to drawing. He also noted that the sale did not include Mirage Studios which is still owned by Laird.