Warner Bros. and DC Comics have received a positive ruling in the lawsuit filed against them by the heirs of SUPERMAN creator Jerome Siegel, according to VARIETY. U.S. Judge District Court Judge Stephen G. Larson ruled that the license fees WB paid DC for the SUPERMAN rights were not below fair market value, thus the heirs will only have the rights to go after DC's $13.6 million profits made on SUPERMAN RETURNS.
Press Release from the Ontario Ministry of Economic Development and Trade
One of the world's leading game developers -- Ubisoft -- is coming to Toronto, Canada to establish a major video game studio and create 800 high-quality jobs over 10 years.
Warner Bros. has purchased most of Midway Games' assets for $33 million in bankruptcy court, according to VARIETY. WB now owns MORTAL KOMBAT, SPY HUNTER and JOUST, among other game franchises. It opted not to buy two development studios owned by Midway in San Diego, California and Newcastle, England.
A bankruptcy court in Delaware gave the approval for the deal last week, adding that all objections to the sale had been resolved. Midway filed for bankruptcy earlier this year.
Digital Domain has lost a wrongful termination suit from former president Christian Bradley Call, and was ordered by a jury to pay nearly $2 million in damages, reports VARIETY.
Call was awarded $659,500 for breach of contract and more than $1.2 million for wrongful termination. The verdict was handed down Thursday in Malibu Superior Court after a two week trial.
THQ is taking toy firm Jakks Pacific to court over their joint venture on the World Wrestling Entertainment games, reports Gamasutra.com. Jakks unilaterally renewed its contract with the WWE without consulting the game publisher. THQ claims that Jakks has no right to make decisions that affect both companies. THQ specifically disliked the provision in the contract that prevents the publisher to release any wrestling game for one year following the termination of the WWE deal.
MARKETWATCH reports that analysts at J.P. Morgan raised their rating on Marvel Entertainment Inc. from neutral to "overweight."
The price target for the stock was hiked from $27 to $42, and analysts said in a note to clients that Marvel was their "top pick as we expect the company to continue to generate high margin revenue from exploitation of its library of characters and surprise the Street to the upside."
Press Release from Plastic Wax
Silverwater, AU -- July 1, 2009 -- Plastic Wax, a leading digital animation studio specializing in videogame production and premium entertainment, today announced another year of growth fueled by new projects involving top intellectual properties and serious investments in new technology.
Press Release from ZDF Enterprises
ZDF Enterprises and Jonathan M. Shiff Productions (JMSP) have prolonged the agreement they signed in 2002 for further 6 years. The creative collaboration between the companies has already proven its winning partnership in various internationally successful live action series such as "The Elephant Princess", "Wicked Science" and "H2O - Just Add Water". Under the terms of this agreement ZDF Enterprises will co-produce JMSP productions and taking charge of worldwide sales of all associated rights outside Australia and New Zealand.
Press Release from ZeniMax Media Inc.
ZeniMax Media Inc., parent company of noted game publisher Bethesda Softworks, today announced it has completed the acquisition of legendary game studio, id Software, creators of world-renowned games such as DOOM, QUAKE, WOLFENSTEIN, and its upcoming title, RAGE.
THQ Inc. today announced a reorganization of the company's management team and business units in support of THQ's focused product strategy. In order to more directly align the organization with its previously announced strategy, THQ has formed three new business units: 1) Core Games; 2) Kids, Family and Casual Games; and 3) Online, and has promoted key executives to manage each of these units. Each unit manager will report directly to THQ President/CEO Brian Farrell.
Oscar-winning visual effects house Digital Domain finds itself moving from the movie set to the court room as legal proceedings begin the wrongful termination case filed against the company by its former president Christian Bradley "Brad" Call.
Press Release from MySpace
LOS ANGELES -- MySpace today announced its intent to restructure its international operations and refocus personnel around a smaller number of territories, while retaining a robust global consumer presence.
Press Release from Random House Children's Books and Komixx Entertainment
RHCB and Komixx Entertainment have agreed to create a new company, Random House Children's Screen Entertainment ('RHCSE'), to produce animated and live-action children's and family entertainment for the cinema and television.
Press Release from NANDO@BENT
International award-winning Creative/Director Nando Costa, founder of top industry leading design and animation studio Nervo, has teamed with Portland-based Bent Image Lab to form, NANDO@BENT. Costa brings his entire Nervo shop to BENT, including creative partner Linn Olofsdotter. Costa, age 30, will become the fourth partner of BENT which includes: Co-Founder/EP Ray Di Carlo, Co-Founder/Director Chel White, and Co-Founder/Director David Daniels.
Press Release from ABC Entertainment Group
Completing a process begun in January, ABC Entertainment Group President Stephen McPherson today announced the Group's final organizational structure. Effective immediately, Business Affairs, Business Development, Casting, Program Planning, Scheduling and Distribution will be managed as integrated areas, while ABC Entertainment and ABC Studios retain separate creative teams, with each combining development and current programming roles.
Japanese manga publisher Futabasha is suing Korean film production house Show East over the rights to turn OLD BOY into a feature film in the U.S., reports ANIME NEWS NETWORK.
Show East produced a popular 2003 Korean version directed by Chan-wook Park. The suit was filed on Monday.
Futabasha is suing to confirm the lack of a binding contract between the two parties, due to an alleged breach. They allege that Show East violated the agreement, nullifying it, when Show East got Universal Pictures to sign on for a remake.
Press Release from The National Film Board of Canada and the Shorefast Foundation
St. John's, Newfoundland and Labrador, June 17, 2009 -- have reached a partnership to deliver Newfoundland's first e-cinema installation and the NFB's first English-language e-cinema partnership in Canada.
On Monday, a Russian court dropped the lawsuit against adult cartoon channel 2X2 for their airing of SOUTH PARK, per VARIETY. A religious group had alleged the show stirs up national hatred.
Last year, the case was brought by the Russian Union of Christians of Evangelical Faith, who said one episode in particular, "Mr. Hankey's Christmas Classics," "insulted the feelings of religious believers and incited religious and national hatred."
Center for Visual Music has received two new grants for preservation of very early Oskar Fischinger animation experiments.
Press Release from Chocolate Liberation Front
Melbourne, June 10 -- Award-winning Australian and Canadian producers form cutting-edge independent production company, Chocolate Liberation Front, which will create and produce high-quality and innovative multiplatform projects for the international marketplace.
Press Release from Autodesk
SAN RAFAEL, Calif., June 10, 2009 - With more than 4,600 participants in the Autodesk Assistance Program and more than 5,000 product downloads to date, Autodesk is announcing significant additions to the program announced six weeks ago. The program was designed to help displaced workers in the architecture, engineering, design and manufacturing industries maintain and develop their 3D design technology skills and help improve their employability in a down economy.
Ninety-year-old Hollywood post-production and VFX house Pacific Title & Art Studio is set to be liquidated, per VARIETY.
Efforts to get new financing for the company have failed, according to an email to employees from CEO and President David McCarthy, and all current projects will be completed by the end of June.
A buyer could emerge to save the company, but McCarthy's email was clear: "You should all immediately consider yourself laid off."
A jury should decide the claims in the suit by heirs of J.R.R. Tolkien against New Line Cinema over profits from the LORD OF THE RINGS film trilogy, ruled Los Angeles Superior Court Judge Ann I. Jones on Tuesday (per VARIETY).
The defense had motioned that a judge, not a jury, hear the lawsuit. Jones also denied a defense motion asking that she hear and decide some of the claims before a jury heard the rest.
Tolkien trust attorney Bonnie E. Eskenazi said the case is on track to go to trial on October 19.