A well loved toy will no longer be produced by an American company.

FOX's Lilian Woo reports:

It's one of the best best known toys of a generation, even immortalized in the Disney-Pixar movie'Toy Story':

(Toy Story) "Hey Etch! Draw!... Etch, you've been working on that draw. Fastest knobs in the West."

The Etch A Sketch for more than half a century, produced or owned by the Ohio Art Company, which has now sold it along with spinoff Doodle Sketch to Toronto toy firm Spin Master Corp for an undisclosed price.

Ohio Art says it plans to focus more on metal lithography and that handing over the toy was done in consideration of the company's long term future.

Ohio Art paid $25,000 in 1960 to license the mechanical drawing toy created by a French inventor.

Lilian Woo, FOX News.