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Category: Business

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.

Dreamworks Headline News

DreamWorks Animation to Switch Stock Exchange Listing to NASDAQ

DreamWorks Animation will voluntarily transfer its stock exchange listing from The New York Stock Exchange to The NASDAQ Global Select Market, an exchange of The NASDAQ OMX Group Inc. The company currently expects that its Class A common stock will commence trading on the NASDAQ on February 26, 2009 and will continue to be listed under the ticker symbol "DWA."

Post Headline News

Post Logic Studios Expands Film and TV Restoration Services

Post-production facility Post Logic Studios, a division of Prime Focus Group, have expanded their film and television restoration services. The company has been managing restoration work for titles such as HONDO and THE RULES OF THE GAME from their Hollywood facility, and has more than tripled its capacity for restoration work through its relationship with Prime Focus in Goa, India. Restoration projects are still managed and completed at Post Logic in Hollywood, however clients now have the cost-effective option of having film clean-up handled in India.

Animation Headline News

Studio100 Launches New Animation Studio

Belgium-based family entertainment group Studio 100 has launched a new animation studio, Studio100 Animation.

Based in Paris, the company's new studio has been established as part of Studio 100's development strategy to create a thriving business in the animation sector through self-funding as well as seeking out co-finance and project development opportuntities.

Heading up the operation is Jo Daris, GM of Studio100 Animation, who will manage the team and spearhead all activities within the division.

International Headline News

Xilam Boosts Sales Force with JC Media

French animation company Xilam has bolstered its international sales force by appointing JC Media (U.K.) to handle three English-speaking markets: the U.K., Ireland and South Africa.

JC Media, headed up by international TV heavyweight John Clutten, is a London-based boutique distributor specializing in the sale of children's programs, feature films and entertainment series throughout English-speaking territories. John Clutten will work closely with Xilam's Paris-based Sales Manager, Laurence Marty, who continues to handling international sales for the rest of the world.

Headline News

Lidar Opens Shepperton Studio

Visual effects company Lidar VFX has opened a new facility at Shepperton in Middlesex, the U.K., to enhance their specialized services in the field of 3D scanning and data capture. A combination of proprietary hardware and software together with highly mobile and specialized crews with a "high speed, low drag" motto enables Lidar to supply clients with an accurate, efficient, and cost effective Data Capture service.

Recent credits include THE DARK KNIGHT, HARRY POTTER AND THE HALF BLOOD PRINCE and HANCOCK.

Disney Headline News

Disney, DreamWorks Announce Distribution Deal

The Walt Disney Studios has agreed to enter into an exclusive long-term distribution arrangement with filmmaker and DreamWorks Studios co-founder Steven Spielberg, and partner Stacey Snider, chief executive officer of DreamWorks, to distribute all upcoming live-action motion pictures produced by DreamWorks under their partnership with Reliance BIG Entertainment, part of The Reliance Anil Dhirubhai Ambani Group, it was announced today by Dick Cook, chairman of The Walt Disney Studios.

Time Headline News

Time Warner Posts $16B Loss for 2008

Time Warner reported its financial results for its full year and fourth quarter (ending Dec. 31, 2008) on Wednesday, with an operating loss on the year of $16 billion. That figure reflected a decline of $24.9 billion compared to 2007's operating income of $8.9 billion, due mainly to a $24.2 billion noncash impairment to reduce the carrying value of goodwill and intangible assets.

Games Headline News

Warner Bros. Home Ent. Acquires Snowblind Studios

Warner Bros. Home Entertainment Group has acquired Snowblind Studios, an award winning, independent game development studio specializing in action and fantasy-based games.

Located outside of Seattle in Bothell, Washington, Snowblind Studios is known for the popular action role-playing games, BALDUR’S GATE: DARK ALLIANCE, CHAMPIONS OF NORRATH and JUSTICE LEAGUE HEROES. The studio was founded in 1997.

Headline News

Disney's Income Drops 32 Percent in First Quarter

Disney's first fiscal quarter (ending Dec. 27, 2008) resulted in a 32 percent drop in net income and an 8 percent drop in revenues.

"We faced a challenging first quarter with many of our businesses impacted to various degrees by the economic downturn," said Robert A. Iger, Disney's president and CEO. "We are forcefully confronting current circumstance while investing in the great creativity, brands and assets that are Disney's strengths and keys to its long-term success."

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