Complex sentence: The company has taken over LBS Communications and some of its assets, however LBS only handled the distribution of DiC shows back in the 80's for syndication, those rights have since expired, like they have with other DiC shows they distributed in the 80's.
Split into simpler sentences: The company has taken over LBS Communications and some of its assets; however, LBS only handled the distribution of DiC shows back in the 80's for syndication. Those rights have since expired, as they have with other DiC shows they distributed in the 80's.