Nickelodeon buys Teenage Mutant Ninja Turtles For $60 million

How many versions of a television show for Teenage Mutant Ninja Turtles can we possibly have? If you’re Nickelodeon, the answer may be “at least one more.”

Viacom’s children’s programming channel, Nickelodeon, has just acquired global rights to the Teenage Mutant Ninja Turtles entertainment franchise from the Mirage and 4Kids Entertainment for a reported $60 million.

Nickelodeon said on Wednesday that the network plans to develop a new CG-animated TV series that is expected to co-inside with the release of a live-action feature-length film in 2012. Viacom’s goal will be to revamp and reintroduce the 25-year-old franchise to a new generation despite the multiple versions of the television show airing on Saturday mornings on the CW Network.