Pharos Capital Group LLC of Nashville and Dallas, has invested $8 million in Reel FX Inc. Based in Dallas, privately held Reel FX provides computer-generated 3D animation and visual effects in the broadcast, feature film, computer and videogame and advertising industries. The company also specializes in the development, production and brand management of family-friendly programming and has a number of active projects including feature films, television and direct-to-DVD series.
A federal judge in Los Angeles has ruled that the WB's SMALLVILLE may be infringing on the copyrights held on the Superboy character by the widow and daughter of Jerome Siegel, creator of the comicbook series, reports VARIETY. The March 23 summary judgment by Judge Ronald S.W. Lew also found that Joanne Siegel and Laura Siegel Larson had successfully recaptured the Superboy rights as of Nov. 17, 2004.
On Monday, the U.S. Supreme Court, without comment, refused to hear an appeal in the case over the sales of VEGGIETALES DVDs and other products.
In the case, Lyrick Studios sued Big Idea Prods., claiming that Big Idea had breached their agreement giving Lyrick exclusive license to distribute the children's cartoons. In 2003, a Dallas jury agreed with Lyrick, stating that the companies had an agreement and a two-year working relationship that was in effect a contract, even though a contract wasn't formally signed.
With its year anniversary upon us, PSPs proprietary Universal Media Disc may soon be a home entertainment avenue of the past, according to THE HOLLYWOOD REPORTER. Universal Studios Home Ent., Paramount Pictures Home Ent. and Image Ent. have stopped releasing titles on the UMD format while retailers are shrinking the amount of shelf space they've been devoting to UMD movies. Rumors are abuzz that Wal-Mart will soon discontinue the sale of UMDs completely. Moreover, Buena Vista Home Ent. and 20th Century Fox Home Ent. have significantly pulled back on their UMD release schedules.
SAG and industry producers have tentatively come to terms on a new basic cable animation contract, which increases residual payments by 20%, reports the trades.
Word came down on Monday the same day that negotiating resumed on a separate live-action basic cable series contract. SAG has already mentioned a strike if they dont get an acceptable raise in residuals.
Both contracts were last negotiated 16 years ago when cable TV was a relatively new.
At the tail end of 2005, a computer hacker calling himself "the Persian Fox" began attacking hundreds of U.S. websites, including scores run by animation companies.
You keep abusing, Islams almighty Prophet with disgusting and disgraceful cartoons using excuses of freedom of speech reads the onscreen message (including the misplaced comma) that replaced the sites regular content. The majority of sites hacked, however, have no connection to the recent uproar over Danish cartoons belittling Islam and the Prophet Muhammad.
Cake Entertainment and Hoek, Line & Thinker (HLT) have joined forces under a newly formed company, Cake Distribution Ltd. that will distribute HLT's current projects and joint future projects.
Dell has entered into a definitive agreement to acquire Alienware to further satisfy the growing number of consumers and businesses, including those used for gaming and multimedia digital content management. Terms of the planned purchase will not be disclosed.
IBM announced it is joining forces with Hoplon Infotainment, Online Game Services Inc. and RenderRocket under separate agreements to help them innovate in the gaming and animation industries. IBM is working with small and medium gaming companies around the world to empower innovative business models.
Japanese animation firm GDH is setting up a $43 million content fund with the Japan office of Goldman Sachs, reports VARIETY. GDH will issue share warrants to Jupiter Investment, a local Goldman Sachs affiliate. Goldman Sachs will sequentially consider investing in a content fund to be run by GDH Capital, a GDH group company, and GDH.
The fund will give production financing for animated content in TV, direct-to-video, features and online games, targeted at international audiences.
With rumors swirling since the Pixar purchase, Walt Disney Co., on March 20, 2006, shuttered its Circle 7 unit, which was dedicated to producing sequels to Pixar films.
A company spokesperson said, Due to changes in our animation business, a substantial number of artists and staff from Circle 7 will be moving into Walt Disney Feature Animation. For those artists without a Feature Animation assignment, we will be assisting them in finding new employment.
Soros Strategic Partners LP and Dune Ent. II Llc., an affiliate of Dune Capital Management LP, have signed a definitive agreement with Viacom Inc. to purchase the film library of Paramount Pictures' DreamWorks Llc. in a transaction that values the film library at $900 million. The library sale, subject to customary closing conditions, is expected to close in April. The transaction completes the second stage of the DreamWorks acquisition.
AOL and Warner Bros. announced the launch of In2TV, the first broadband television network, on AOL.com. The network offers the largest collection of free on-demand TV shows on the Web, including full episodes of favorite Warner Bros. programs from the past 40 years, such as WELCOME BACK, KOTTER, CHICO & THE MAN, GROWING PAINS, KUNG FU, LOIS & CLARK, as well as animated series, along with interactive features and viral videos that enable audiences to experience and interact with television programming in a new way.
In a first ever move for an Eastern European game company, Nival Interactive Inc. announced it has established its global headquarters in the U.S. and recruited an executive management team comprised of American videogame industry professionals, including Kevin Bachus, co-creator of Microsofts Xbox, as ceo. The changes are part of the companys plan to expand in the computer, video and mobile game markets by offering its partners superior products with global commercial appeal at a significantly lower production cost.
Industry exec Michael Hefferon, announced the official launch of ibanana integrated media inc., an entertainment company he heads dedicated to developing and producing integrated content for television, web, mobile and gaming platforms.
Responding to industry demand for dynamic content with digital media convergence, ibanana has developed a concept that utilizes the strengths and applications of each platform to develop inherent synergies.
The growing importance of videogames to entertainment culture has been recognized by the British Academy of Film and Television Arts (BAFTA), which has elevated the sector to become an equal to those for Film and Television. Champions of the moving image, BAFTA seeks to reward artistic and creative innovation within videogames, as one of the principal contemporary art forms.
Lapin Blanc, animation unit of London commercials and film company Lucky Elliot, has signed Oscar nominated animation studio Blur. Celebrating a 10th Birthday, Blur Studio produce some of the worlds finest digital content for features, commercials, game cinematics, music videos and theme park rides. Blur announced at this year's Sundance Festival they are to develop a feature version of the 2005 Academy-nominated short GOPHER BROKE.
The Animation Guild and Affiliated Optical Electronic and Graphic Arts, Local 839 IATSE, has reached agreement with the animation producers on a three-year collective bargaining agreement, effective Aug. 1, 2006 to July 31, 2009. The Animation Guilds negotiating committee has unanimously recommended ratification to the Guild (TAG, animationguild.org) membership.
Looking to offer clients a more complete creative experience creative director John Yu and Paul Goldman (founder/creative director of music house Ear Goo) have launched Element, a new design studio offering clients first class motion graphics, visual effects and 2D/3D animation.
Framestore CFC has announced the formation of Framestore Feature Animation. Heading the new venture will be David Lipman, who joins the company as managing partner after eight years at DreamWorks Animation, where his roles included producer on SHREK 2 and co-exec producer on SHREK.
The mood was a lot more upbeat at The Walt Disney Co.s 2006 annual shareholders meeting today (March 10) at the Anaheim Pond, according to trade reports. The $7.4 billion Pixar deal (which will close in late April or early May) stole the show, Roy Disney was greeted with thunderous applause, John Lasseter wowed with a promise to revitalize Disney Feature animation and the introduction of new president/ceo Robert Iger was met with enthusiasm.
DreamWorks Animation SKG Inc. announced results for the fourth quarter and full year ending Dec. 31, 2005.
Within the release, DreamWorks officially nixed past projects TORTOISE AND THE HARE and TUSKER. Both films were written off for book purposes in 2003. Because DreamWorks Animation plans to abandon the rights to these films in 2006, it receives the associated tax benefit at this time. This has resulted in an increase to net income of approximately $28.0 million, or $0.27 per share, in the fourth quarter.
Pixar Animation Studios reported 2005 was the companys most profitable year ever. For the fiscal year ended Dec. 31, 2005, Pixar earned $152.9 million, or $1.24 per fully diluted share, on revenues of $289.1 million. Topping earnings of $141.7 million on revenues of $273.5 million for the year ended Jan. 1, 2005.
KOCCA (Korea Culture & Content Agency), an organization which supports and fosters foster the continuing expansion of Korean animation production for the global marketplace, has established a full-service, state-of-the-art 2D/3D animation studio.
Comic Book Movies, an entertainment company established by veteran film producer and comicbook authority Michael Uslan and visionary financier M. Jonathan Roberts, has announced a strategic partnership with Skywalker Sound for all post-production and sound services for their upcoming slate of features films, television and animation productions.