Warner Bros. Home Ent. Group announced it has entered into an agreement to acquire TT Games, which encompasses Traveller's Tales, one of the world's largest independent game developers, and TT Games Publishing, the U.K.-based game publisher behind the LEGO STAR WARS videogames and BIONICLE HEROES.
NBC Universal Inc. and Jupiter Telecommunications Co., Ltd. have signed an agreement for NBC Universal to acquire Jupiter Telecommunications' subsidiary company JSBC2, and launch Sci Fi Channel on J:COM.
Under the terms of the agreement, NBC Universal will acquire 100% of the equity of Jupiter Telecommunications' subsidiary company JSBC2, which currently holds the broadcasting license for Reality TV on the SkyperfecTV platform in Japan. The deal is expected to close in April 2008.
The Walt Disney Co.'s operating income for its studio entertainment segment surged 65% to $1.2 billion for the year ended Sept. 29, 2007, even though revenues were flat at $7.5 billion. For the quarter, segment operating income decreased 21% to $170 million and revenues decreased 24% to $1.5 billion.
Marvel Ent. today reported operating results for the third quarter and nine months ended Sept. 30, 2007. Marvel also raised its 2007 financial guidance for net sales, net income and diluted EPS and initiated financial guidance for 2008.
The West Bengal government plans to build an animation park in Kalkotta, ANIMATION EXPRESS reports. The park, which will contain animation studios and IT companies, will be under the Special Economic Zone (SEZ).
The National Alliance on Mental Illness (NAMI) today condemned the controversial videogame MANHUNT2, calling its portrayal of mental illness irresponsible and stereotyped. "NAMI asks Rockstar Games to recall or further modify the videogame MANHUNT2 due to its irresponsible, stereotyped portrayal of mental illness," NAMI executive director Mike Fitzpatrick said in a statement. "We also ask retailers to be responsible in responding to public health concerns."
BeanstockTV ApS has announced that it is shutting down. Since August 2007, it has been looking for further investment to keep BeanstockTV afloat. Now, having spent its initial investment, the company is filing for bankruptcy.
As of today, BeanstockTV's VOD animation website will go offline. Users who have prepaid money into their account will not receive a refund.
Prominent members of the U.K. children's sector have criticized the recently announced staff and budget cuts at BBC Children's, calling the decisions "disappointing" and "a betrayal," C21 MEDIA reports. The reductions, which include the loss of 88 jobs and the equivalent of a US$201 million cut in programming budgets by 2012/13, will likely have repercussions throughout the industry.
Sony Pictures Ent. confirmed that it is pondering an equity partnership for Sony Pictures Imageworks & Sony Pictures Animation, as reported in THE NEW YORK TIMES.
The studio is considering selling up to half of Sony Animation, according to THE TIMES, and has hired the investment bank Houlihan Lokey Howard & Zukin to assess the value of the two divisions, which is estimated at around $500 million.
SHREK THE THIRD was once again the largest driver of the quarter for DreamWorks Animation SKG Inc., contributing approximately $92.1 million in revenue, primarily from its significant international box office receipts in the period. To date, the film has reached approximately $793 million in box office on a worldwide basis, making it the third-highest-grossing animated film of all time.
Troll Company, the Danish owner of the rights to the iconic Good Luck Troll doll, has filed a $20 million lawsuit against brand management company DIC Ent. In a lawsuit filed today in Los Angeles Superior Court, Troll Company charged that DIC fraudulently obtained licensing rights to the Troll by hiding its true financial condition and then conducted such a disastrously underfunded roll-out that the Troll was transformed from a "multi-billion dollar renowned property" into one that was unmarketable.
Cookie Jar Ent. has secured an expanded $40 million line of credit and has added Bank of America to its strategic lending relationships, led by RBC Capital Markets.
The extra capital will be used to finance an ever-growing lineup of new production in support of hit show THE DOODLEBOPS, evergreen classics such as CAILLOU, ARTHUR, and JOHNNY TEST, the newly launched HURRAY FOR HUCKLE and MAGI-NATION, and an extensive development slate for 2008 and 2009.
Antonio Banderas' Green Moon Producciones and Spanish animation studio Kandor Graphics have come together to form an as yet unnamed feature animation company, reports VARIETY. The 50/50 joint venture plans to produce five features in the next 10 years.
The first film, which has already started production, is THE MISSING LYNX. Kandor partners Manuel Sicilia and Raul Garcia are directing. Enrique Posner's YaYa! Films and Manuel Cristobal's Perro Verde are producing. 6 Sales is handling international sales.
Canada's Corus Ent. Inc., parent company of Nelvana and its YTV and Treehouse channels, has announced its fourth-quarter and year-end financial results, led by continued revenue growth from its broadcasting businesses.
Los Angeles-based Grasshorse Technologies, Inc. announced its decision today to relocate and expand its services to the state of Iowa. The production company's decision comes in response to recent legislation providing tax incentives to attract the film industry, job diversity, and talent to the state.
"The Iowa Film, Television and Video Project Promotion Program (IFTVP) has created fertile ground for companies to relocate to Iowa. It lays the foundation for a very exciting and burgeoning industry," stated Stephen Jennings, co-president and founder of Grasshorse.
At Nintendo's request, the Hong Kong High Court has intervened to help stop a global distribution operation involving game-copying devices and modification chips that violate its copyrights and trademarks in the Nintendo DS and Wii systems.
Several of the world's leading Internet and media companies have announced their joint support for a set of collaborative principles that enable the continued growth and development of user-generated content online and respect the intellectual property of content owners.
Toronto-based independent production houses Rocket Science Visual Effects and Screen Door have joined forces to create Fandango Animation, reports KIDSCREEN. Former Nelvana exec and industry veteran Heather Walker will be Fandango's lead production executive, charged with shepherding the company's first slate of projects into production in both traditional and new media platforms. With a number of shows already in development, Fandango is currently looking for co-production partners.
The BBC has confirmed that 88 of the 426 jobs in its children's department will be eliminated as part of the corporation's downsizing, C21 MEDIA reports. The news follows the earlier announcement that 1,800 total jobs will be cut as part of the "Delivering Creative Futures" strategy. While a spokesman confirmed that the jobs would be cut over the next three years, it wasn't clear which sub-divisions would be most affected, as the BBC intends to first ask employees to take voluntary redundancy.
India's Maverick Productions, which recently joined with the DNS Network to distribute mobile content, is gearing up to enter the animation world, reports ANIMATION XPRESS. Maverick COO Yash Chavan revealed that the company is in talks with potential international partners and is looking at a popular comic strip as source material for an animated feature for the international market. Currently budgeted at US $1.5 to 2 million, the two-hour feature is expected to be released in late 2009 or early 2010.
Director-General Mark Thompson has announced that the BBC will eliminate 1,800 positions as part of a six-year strategy to "re-prioritize resources," reports C21 MEDIA. The company will also sell its West London headquarters and will reduce its production output by 10% by 2012-13. The reorganization is being undertaken to compensate for a $4.1 billion funding shortfall caused by a lower-than-expected license fee settlement. The "Delivering Creative Futures" strategy will be presented to the BBC's employees today following a meeting with unions.
IMAX has moved up the launch date of its digital projection system in development to the second quarter of 2008 from its previously announced time frame of the end of 2008 to mid-2009. The IMAX digital projection system will further enhance The IMAX Experience and help to drive profitability for studios, exhibitors and IMAX theaters by virtually eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens.
Full Circle Studio, a state-of-the-art design studio based in Trinidad, has equipped its facility with Toon Boom Digital Pro, reports the software maker. Full Circle aims at becoming a major animation studio in the Caribbean and catering its professional animation services to North American and European studios.
Foundation 9 Ent. announced that it will combine its two existing Southern California studios, The Collective and Shiny Ent., into one larger entity. The merge will enable greater capacity to create large-scale games based on big licensed properties. Both studios have already relocated to F9E's new 60,000-square-foot corporate headquarters in Irvine, California.