IMO 4Kids got the best deal out of this, they had the rights for merchandising and everything else until 2012, however they weren't going to make any new cartoons, and without cartoons they wouldn't get money from merchandising mostly until the 2012 movie.
Also in the short term this is great news for TMNT fans, 4kids wouldn't have made a new cartoon not even with the new movie and now we have a new show confirmed.
It will not look as good as the fourth movie but CGi cartoons can look pretty good. Look at recent CGi shows and with each year shows keep getting better by 2012 it wouldn't surprise me if it was close to the fourth movie.
And you know I think it was very likely that the next TMNT cartoon would have been in CG even without the buy out. Mirage had two different pilots/test footage for a cg show that was never picked up, its obvious they wanted to go that route.
No, thats Disney. Nick does have their episode rules with their Nicktoons that after they reach 52 its cancelled no matter what. Of course that doesn't count Avatar which had a longer run, not to mention a great story, action, fight scenes etc. Not to mention Rugrats and Spongebob also had/have huge runs.
I don't think Nick would spend spend 60 million to buy TMNT, make a one season show and if it doesn't make them happy with its returns put it in a vault, this is a commitment. It was done since Disney bought Marvel they wanted their own piece of the pie when it came to superhero cartoons especially since they are losing their Marvel cartoons.