The second animated series (2003–2009) was a co-production between Mirage Studios and 4Kids Entertainment. Nickelodeon's October 19, 2009 buyout of the TMNT franchise included an approximate $9.75 million payment to 4Kids to terminate its right to serve as the merchandise licensing agent prior to the scheduled expiration of the representation agreement in 2012. Due to the buyout, all future TMNT film and television series rights are owned by Nickelodeon. Nickelodeon also gained the rights to the 2003 series after terminating 4Kids' contract.