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Category: Business

Headline News

Hasbro & Discovery Form Kids Network

Hasbro, Inc. and Discovery Communications announced an agreement to form a 50/50 joint venture, including a television network and website, dedicated to high-quality children's and family entertainment and educational programming. As part of the transaction, the joint venture also will receive a minority interest in the U.S. version of Hasbro.com.

Headline News

Magna Ent. Files Second Default Status Report

Magna Ent. filed this news release as its second bi-weekly default status report. As a debtor-in-possession under the United States Bankruptcy Code, the firm will not issue a 2008 yearly fiscal report or a Q1 2009 report. The filing of this press release occurred after the two-week period following the company's last status report pending its agreement to terminate MI Development Inc.'s stalking horse bid to acquire certain assets of the company, and the final order of the U.S.

Total Headline News

Nick Leads Basic Cable in April

Nickelodeon is basic cable's top total day network for April, posting double-digit leads with its kid 2-11 target audience over competitors for the month, as well as year to date. Nickelodeon also owned the top three kid-targeted programs (SPONGEBOB SQUAREPANTS, THE PENGUINS OF MADAGASCAR, ICARLY) on basic cable among total viewers in April -- and placed those three shows among all of basic cable's top five programs with total viewers for the month.

Million Headline News

DreamWorks Animation Reports Best Q1 Ever

Press Release from DreamWorks Animation

GLENDALE, Calif., April 28 /PRNewswire-FirstCall/ -- DreamWorks Animation SKG, Inc. (Nasdaq: DWA) today announced financial results for its first quarter ended March 31, 2009. In the quarter, the Company reported total revenue of $263.5 million and net income of $62.3 million, or $0.71 per share on a fully diluted basis. This compares to revenue of $157.2 million and net income of $26.1 million, or $0.28 per share on a fully diluted basis, for the same period in 2008.

Million Headline News

Hasbro Reports First Quarter Results

Press Release from Hasbro, Inc.

First Quarter Highlights-- Net revenues of $621.3 million compared to $704.2 million a year ago; 2009 revenues include a negative $40.2 million impact from foreign exchange, in constant dollars revenues declined 6%; -- Net earnings of $19.7 million or earnings per diluted share of $0.14 compared to $37.5 million or $0.25 per diluted share a year ago.

Headline News

Children's Virtual World Company Tribal Nova Gets $3 Million

Press Release from Tribal Nova

MONTREAL, April 16 -- Tribal Nova, a Montreal based developer and operator of parent-friendly virtual worlds and online educational gaming services for 3-12 year olds, announced today the closing of a $3 million growth financing round from iNovia Capital and ID Capital.

Post Headline News

Vapor Post Aligns With Mexico's Digiworks to Launch Vapor Post Interactive

Press Release from Vapor Post

MIAMI (April 16th 2009): Vapor Post, the Miami-based boutique post-house (www.vaporpost.com), is pleased to announce the formation of Vapor Post Interactive through an alliance with Digiworks, one of Mexico City's leading interactive agencies (www.digiworks.com).

Headline News

Terminator Salvation Lawsuit Dismissed With Prejudice, Settlement Reached

Press Release from Halcyon Co.

OS ANGELES -- Halcyon Co. co-CEOs Derek Anderson and Victor Kubicek and producer Moritz Borman announced today that Mr. Borman's lawsuit against Halcyon has been dismissed with prejudice after the two sides amicably resolved all of the outstanding differences between them related to the upcoming film TERMINATOR SALVATION.

Digital Headline News

Moddler Shows Shape of Things to Come for Model Creation Via 3D Printing

Press Release from Moddler

San Francisco, CA, April 17 -- 3D printing company Moddler has formed to offer high quality physical models of 3D digital creative assets for entertainment industry content producers including film and television production studios, visual effects and animation studios, game companies and individual artists, announced principal and founder John Vegher, a VFX veteran and Emmy Award winner.

Headline News

Activision Blizzard's March Quarter Looking Up

SANTA MONICA, Calif., April 16 -- Due to the better-than-expected performance of its titles at retail, Activision Blizzard (NASDAQ:ATVI) announced today that its March quarter net revenues and earnings per diluted share are tracking ahead of the company's prior outlook. On February 11, 2009, the company provided an outlook for the March quarter of $860 million in GAAP net revenues and GAAP earnings per diluted share of $0.08. On a non-GAAP basis, on February 11, 2009, the company provided an outlook of $550 million in net revenues and earnings per diluted share of $0.03.

Animation Headline News

China Digital Animation Development Gets New Contract

Press Release from China Digital Animation Development, Inc.

NEW YORK, April 14, 2009 -- China Digital Animation Development, Inc. (OTC BB:CHDA.OB - News) announced that it has signed a contract with China Harbin PINGE Culture Communication Corporation for a post-production project consisting of a series of 56 animated renderings. The project will commence immediately, and it is expected to be complete in 6 months. The total project value is US$800,000.

Headline News

Konami Digital Prevails in Appeal Proceedings against Upper Deck

Press Release from Konami Corporation

El Segundo, CA (April 15, 2009) -- The Amsterdam Court of Appeal ruled in favor of Konami Digital Entertainment B.V. (KDE) in appeal proceedings against Upper Deck International (UDI). UDI had requested a preliminary injunction to compel KDE to accept UDI as its exclusive distributor for Europe, Oceania and Latin America. On April 7, 2009, the Court of Appeal rejected all of UDI's claims.

Headline News

Nerd Corps Sues Kidz Ent. for Back Fees

Nerd Corps Entertainment has filed suit against Danish licensing agent Kidz Entertainment surrounding payment of show delivery of STORM HAWKS, according to KIDSCREEN.

Filed in January in British Columbia, the suit alleges that Kidz agreed to pay $267,300 (approximately) for the delivery of 26 episodes of action series STORM HAWKS and marketing and licensing the property in Denmark, Finland, Sweden, Norway and Iceland.

Entertainment Headline News

4Kids in Violation of NYSE Listing Standard

Press Release from 4Kids Entertainment, Inc.

NEW YORK -- 4Kids Entertainment, Inc. (NYSE: KDE), the global children's entertainment and merchandise licensing company, today announced that it has been notified by NYSE Regulation, Inc. that it is not in compliance with one of the continued listing standards of the New York Stock Exchange (NYSE).

Headline News

Phoenix Editorial Launches Sister Company Bonfire

Press Release from Phoenix Editorial

San Francisco, CA (April 14, 2009) -- Phoenix Editorial announced that it has launched Bonfire, a motion design and integrated media company. The company has also promoted Julia Sonder-Patchin from producer to executive producer, where she will oversee creative output across Phoenix Editorial and Bonfire under the aegis of company president Lisa Hinman.

Headline News

StudioGPU and AMD Enter Into Strategic Relationship

Press Release from StudioGPU and AMD

Los Angeles, Calif., April 14, 2009 -- StudioGPU, a pioneer in real-time 3D CG workflow solutions today announced it has entered into a strategic relationship with AMD (NYSE: AMD). Terms of the relationship between StudioGPU and AMD were not released.

Blogs

Cartoons on the Bay: A Different Bay, A Different Festival

By Dan Sarto | Friday, April 10, 2009 at 10:15am

Cartoons on the Bay debuted in their new, more post-MIPTV friendly location. Now held in the three towns of Rapallo, Santa Margherita Ligure and Portofino, the festival is just one jaw-droppingly stunning ride away from Cannes. What a place!

Headline News

MyToons Shuts Down

Online animation site MyToons has been shut down. The company laid off between 20 and 27 people in January (according to blog TechCrunch), and have now closed their doors.

The company sent out emails to their store sellers informing them of the close, and their site (http://www.mytoons.com/) is effectively shut down as well, with the page leading to a cartoon bouncer with the words, "MyToons has closed. Thank you for all your support." at the top.

Headline News

Will Wright Leaves EA to Form Stupid Fun Club

EA is making an equity investment in Stupid Fun Club, Will Wright's new adventure. Stupid Fun Club is an entertainment think tank developing new Intellectual Properties to be deployed across multiple fronts including video games, movies, television, the internet, and toys. Will Wright is leaving EA to run Stupid Fun Club.EA and Wright each own equal percentages of Stupid Fun Club and are the principal shareholders. In addition, EA has the right to develop game concepts that spring from Stupid Fun Club projects.

Coolabi Headline News

Coolabi Entering Reserse Takeover Talks

U.K. children's television producer Coolabi Productions is just starting reverse takeover discussions, according to multiple news outlets.

KIDSCREEN reports that shares were suspended on the AIM Index in London after the announcement was made. Revenue for the last six months of 2008 was down to $776,000, from $1.3 million in the same 2007 period. Their licensing revenue has seen a 40 percent increase in the last year, thanks to demand for PURPLE RONNIE and SCARLETT & CRIMSON products.

Million Headline News

Corus' Revenue, Profits Up, Income Down for Q2

Corus Ent. announced its second quarter financial results today.

Consolidated revenues for the three months ended February 28, 2009 were $181.4 million, up 1% from $178.7 million last year. Consolidated segment profit was $51.0 million, up 3% from $49.7 million last year. Net income for the quarter was $29.0 million ($0.36 basic and diluted), compared to net income of $35.4 million ($0.42 basic and $0.41 diluted) last year.

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