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Category: Business

Headline News

Robinson Vs. Cinar: Arguments Begin

Arguments started on March 10 for the lawsuit from author Claude Robinson against Montreal production house Cinar and are expected to go for three weeks, according to RADIO CANADA.

The author accused Cinar of having plagiarized one of his works and claims 3 million Canadian dollars in damages.

Game Headline News

Big Red Button, Emergent Game Technologies Forge Partnership

Bob Rafei and Dan Arey, founders of Big Red Button Entertainment (BRB), have entered into a strategic partnership with Emergent Game Technologies. The partnership will position Emergent as BRB's central technology resource and enhance BRB's creative vision, exceptional team and game design prowess. Marc Jackson, founder of Seahorn Capital, orchestrated the partnership and his team will continue to play a key role in building a strong foundation for this ground-breaking collaboration.

Million Headline News

Take-Two Reports Q1 Loss Despite Higher Sales

Take-Two Interactive Software posted a higher loss for the first quarter of the year, blaming high marketing costs, development and legal fees despite stronger sales.

Net revenue for the first quarter of 2009 was $256.8 million, compared to $240.4 million for the same quarter of fiscal 2008. First quarter sales were led by GRAND THEFT AUTO IV, CARNIVAL GAMES, NBA 2K9 and MIDNIGHT CLUB: LOS ANGELES.

Headline News

Disney Announces Long-Term Environmental Goals

The Walt Disney Company announced Monday a landmark set of strategic environmental goals and challenging three-to-five year targets to reduce emissions, waste, electricity and fuel use, and its impact on water and ecosystems.

The goals are part of Disney's 2008 Corporate Responsibility Report, which details the company's approach to critical corporate responsibility issues ranging from charitable giving to nutrition and from online safety for kids to workplace diversity.

Headline News

Marvel Looks Into Expanding Global Reach

Marvel Entertainment has formed an international advisory board comprised of business leaders from key international growth markets. The new advisory board will work with Marvel executives to explore opportunities for expanding the penetration of the Marvel and key character brands in international markets. The advisory board is chaired by James F. Halpin, a Marvel director since March 1995. Simon Philips, President, Worldwide Consumer Products will serve as the primary company liaison to the board.

Film Headline News

Hit Entertainment Launches Movie Division

HIT Ent. is set to launch HIT Movies, a new division dedicated to making family-oriented movies out of HIT's library of children's properties, as well as identifying and developing new stories and characters for future family movies. The launch is part of an effort by the company to expand the reach of HIT properties across a variety of platforms, and use films as a means to introduce new HIT stories and characters to a family audience.

Moonscoop Headline News

Taffy, Mike Young Get Rebrand Under Moonscoop Name

Moonscoop, and its affiliated companies Taffy Ent. and Mike Young Productions will unify under the common global brand name Moonscoop for worldwide operations. This move reflects, and is intended to capitalize on, the synergy between its television production, sales, licensing and merchandising and new media departments worldwide.

The "Taffy Entertainment" brand, which handles distribution, licensing and consumer products, and production brand "Mike Young Productions" will now all use "Moonscoop" as a common brand.

Headline News

Konami Wins Preliminary Injunction Against Upper Deck

In a statement to the press on Tuesday, Konami has detailed the behind-the-scenes issues with the YU-GI-OH! trading card game. In December 2008, Konami Digital Ent. notified its distributor, The Upper Deck Company, that the parties' agreement for distribution and marketing of Konami's YU-GI-OH! Trading Card Game (TCG) had terminated.

Headline News

Zentropa Relaunches Animation Studio

Three years after its first try, Danish company Zentropa is restarting an effort to created animated content, reports VARIETY.

A spinoff called Rambuk will be led by Stefabn Fjeldmark, formerly of Denmark's Fine and Mellow Prods. Zentropa recently opened an office in Norway and launched a company to develop computer and video games.

In 2006, they created an offshoot called Zentropa Grrr that produced adult feature PRINCESS and short film JEG SOMREGAL.

Headline News

Allegorithmic Opens New Office in Seoul, South Korea

Allegorithmic is opening a new subsidiary office in Seoul, South Korea, called Allegorithmic Korea.

A South Korean presence will extend the company's business into Asian markets and allow them to provide dedicated support on Substance and ProFX, Allegorithmic's technology solutions for Korea's fast-growing sector of online, casual and Free2Play games. Allegorithmic's South Korean office will be led and operated by Christian Taewon Kim.

Company Headline News

Imagi Gets Money to Complete Astro Boy, Restructures

Asian-based CG-animated movie studio Imagi International Holdings will have enough money to complete feature film project ASTRO BOY. The company raised about $25 million to finish the film and will release it on time on October 23, 2009.

Imagi will still have to raise additional financing to ramp up production of films currently scheduled for release in 2010 and 2011 before box office receipts come in for ASTRO BOY.

Business Headline News

BBB Gives Second Life Company an "F"

THE BUSINESS INSIDER reporter Eric Krangel reports that the Better Business Bureau has given Linden Lab, the company behind SECOND LIFE, an "F."

The BBB cites:

-- Number of complaints filed against business.-- Failure to respond to complaints filed against business.-- Length of time business has taken to resolve complaint(s).

Million Headline News

Iron Man Rockets Marvel to Record 2008

Marvel reported a Q4 2008 profit of $63 million, compared to $27.6 million for the same period in 2007, driven principally by DVD sales of IRON MAN.

For all of 2008, Marvel's profit grew 47 percent: $205.5 million, up from $139.8 million in 2007. The revenue and net income growth principally reflects the contribution from Marvel Studios which released its first two feature films, IRON MAN and THE INCREDIBLE HULK, in the summer of 2008.

Million Headline News

Despite High Grossing Box Office, DreamWorks Animation Income, Revenue Down

DreamWorks Animation announced financial results for its fourth quarter and full year ended December 31, 2008. In the fourth quarter, the company reported total revenue of $199.8 million and net income of $51.6 million, down from revenue of $290.2 million and a net income $94.1 million the same period last year. These results bring the full year reported revenue for 2008 to a total of $650.1 million and net income of $142.5 million, down from 2007's numbers of $767.1 million in revenue and net income of $218.4 million.

Headline News

Vue, RealD Partner for Digital 3D in the U.K.

U.K. cinema developer and operator Vue Ent. will add 200 RealD 3D screens to its circuit.

The rollout of RealD 3D-enabled screens has already begun with an installation at Vue's flagship location in Leicester Square. Additional RealD systems are ready for installation immediately as new screens are added monthly at Vue cinemas.

RealD's next-generation 3-D technology is deployed across the world's largest 3-D platform in 34 countries with over 1,700 screens today and an additional nearly 6,000 screens under contract.

Studios Headline News

Bonfire Studios Emerges from Ensemble

The second company to emerge from the former Ensemble Studios was announced this week. Bonfire Studios is a 35 person studio currently working on an original IP to be announced in the coming months. The Bonfire team is made up entirely of former Ensemble employees fresh off of the highly-anticipated HALO WARS.

Headline News

Paramount Extends Deal with Montecito, Cold Springs

Paramount Pictures has extended its agreement with The Montecito Picture Company and Cold Spring Pictures to run through February 2012. The arrangement gives the studio an exclusive first look at Montecito's diverse productions, as well as the non-exclusive opportunity to co-finance films through Montecito's financing facility, Cold Spring Pictures.

Studio Headline News

New Animation Studio Opening in Philly

A new production studio will be opening this summer in Philadelphia, called UArts Motion Heads (http://motionheads.uarts.edu/), a studio that incorporates various methods of animation with live-action, original music, voice-over talent, motion graphics and illustration.

Film Headline News

Rhino Rebrands to Reflect Global Reach

rhinofx is dropping off the "f" and "x" and changing its name to Rhino. A year after uniting with Gravity, one of Israel and Canada's premier media development studios, Rhino has updated its name, identity, and vision to coincide with its dramatic and global evolution in both traditional and non-traditional work across TV, film, web, and mobile screens.

Headline News

Midway Games Files for Bankruptcy

On Thursday, Midway Games announced it was filing for Chapter 11 bankruptcy protection, according to the ASSOCIATED PRESS (via VARIETY). The game developer, best known for its MORTAL KOMBAT franchise, said the filing originated from a change in ownership in late 2008 that led to an accelerated buyback requirement related to two classes of debt they did not think they could meet.

Headline News

Peter Jackson Signs Deal With Newly-Launched Strategic Marketing Company

Veteran interactive marketing and integrated promotions executive Gordon Paddison has now launched his new global marketing firm Stradella Road, which will provide entertainment, and corporate clients a wide range of innovative marketing solutions targeting consumers and communities of influencers worldwide.

Million Headline News

Square Enix Buys Tomb Raider Creator Eidos

U.K.-based videogame publisher Eidos has agreed to be purchased by Square Enix for $120 million, per VARIETY. Eidos' biggest franchise is the TOMB RAIDER series.

Warner Bros. owns 20 percent of Eidos, and is now expected to lose about $93 million if the deal is approved by stockholders. The studio invested $30 million in Eidos last year in addition to the $87 million it put up in 2006. Square Enix plans to buy out WB for $24 million.

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