John Young
October 21, 2009 AT 11:51 PM EDT

Nickelodeon, the kids channel owned by Viacom, has purchased the global property rights to the Teenage Mutant Ninja Turtles from the Mirage Group and 4Kids Entertainment for $60 million, according to Variety. The deal paves the way for Nick to start producing a CG-animated TV series for the heroes in a half shell. The show is scheduled to begin airing in 2012. Also planned for that year is a new Turtles feature film that will be released by Viacom’s Paramount Pictures.

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