Bagpuss was invented in 1974 by Peter Firmin and Oliver Postgate
Cult children's TV favourite Bagpuss could make a comeback after the company which owns the character changed hands.
Coolbai, which has purchased the rights to the cloth cat, said he was a "much-loved" character and are planning to introduce him to a new generation.
The Clangers and Ivor the Engine have also been acquired by the organisation.
Only 13 episodes of Bagpuss were made in 1974. Earlier this year, the pink feline was named the best TV animal of all-time in an online poll.
In 1999, it was named the favourite children's TV show.
The company said there was "significant potential to build on the affection in which this classic brand is held".
It has acquired the rights to Bagpuss and other children's favourites until at least 2013.
It added its team would "begin work immediately in order to accelerate their development".
Bagpuss was known as "an old, saggy cloth cat, baggy, and a bit loose at the seams" and screened on the BBC.
The furry cat would wake up when his owner Emily left the room, and various other toys would also come to life, including Madeleine the rag doll.
Wooden woodpecker book-end Professor Yaffle and the mice on a pipe organ also took part in the adventures, but when Bagpuss began to yawn again, they would all go back to sleep.