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In page Hanna-Barbera:
"Turner Broadcasting System outbid MCA (then-parent company of Universal Pictures), Hallmark Cards and other major companies in acquiring Hanna-Barbera while also purchasing Ruby-Spears as well.[citation needed] The two companies were acquired in a 50-50 joint venture between Turner Broadcasting System and Apollo Investment Fund for $320 million.[1][2] Turner purchased these assets to launch a then-new all-animation network aimed at children and younger audiences.
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