The studio's productions included television series LazyTown.
[1] The studio was founded in 2002 by Magnús Scheving and his partners Guðmundur Þór Kárason, Raymond P. Le Gué and Ragnheiður Melsteð.
[2] LTS owns Wit Puppets and the creative studio from Le Gué Enterprises BV.
On May 16, 2024, it was announced that Magnús Scheving had agreed to a deal with Warner Bros.
Discovery to purchase back the company and the rights to the LazyTown brand.