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Cowabunga! The Teenage Mutant Ninja Turtles are coming! 

By 2012, you'll be able to relive the era of your favorite heroes in a half shell in CG-animated form. Nickelodeon recently bought the rights to the popular TV show, which made its syndicated series debut in 1987. 

The rights cost a total of $60 million, pocket change considering the amount of old and new fans the franchise is likely to attract. Not to mention the money that will fly in on account of merchandise and movie rights to our rowdy reptile friends.

Nickelodeon president, Cyma Zarghami expresses the studio's excitement over the project stating, "We are extremely happy to have the opportunity to be able to focus on this property and creatively re-introduce it to a new generation of kids." 

Chances are she's much more excited about the "tangible" effects the property will produce, but these things need not be said out loud. The CW network will be giving up the rights to the franchise in August of 2010. 

This blog has been contributed by Film & TV Channel assistant Kristen Berke.