Avid Technology Inc. has entered into a definitive agreement to acquire Pinnacle Systems Inc. in a cash and stock transaction of about $462 million. The combination will provide Avid with immediate presence in consumer video and expand its professional broadcast offerings. The acquisition is subject to satisfying a number of closing conditions, including shareholder and regulatory approvals, and is expected to close in the second or third quarter of 2005.
DreamWorks Animation SKG Inc. announced financial results for its fourth quarter and full year ended December 31, 2004.
Sumner M. Redstone, chairman/ceo of Viacom Inc. is exploring the possibility of dividing the corporations businesses into separate publicly-traded companies, to achieve important corporate objectives and to better deliver value to shareholders in a tax-efficient manner, a company statement read. Viacom expects to announce further details regarding the possible separation in the second quarter of 2005.
On March 15, 2005, the trial began in the lawsuit between Roger Rabbit creator Gary Wolf and the Walt Disney Co., reports HOLLYWOOD REPORTER. Wolf alleges the 5% royalty he received from revenue for movies, merchandise and other goods should also include the estimated value of promotional tie-ins with McDonalds, Burger King and others -- even though Disney was not paid for those deals. In Wolfs 1983 agreement, he is entitled to a percentage of gross receipt, which he claims should include cash and "all other considerations.
Texas Instruments will unveil a glimpse of its future plans for digital cinema and 3D movies at ShoWest, the annual convention for movie exhibitors, March 14 -17, 2005, in Las Vegas. TI has planned what it considers a landmark demonstration with STAR WARS creator George Lucas and TITANIC director James Cameron on March 17 at 11:30 am to showcase 3D theatrical entertainment with TIs DLP Cinema technology. TI will for the fourth consecutive year serve as the corporate sponsor of ShoWest.
Due to a new condominium project, the Animation Academy, which was operating at 3407 W. Olive Ave., will now hold classes at the Burbank Association of Realtors offices and Trinity Foursquare Church, reports the DAILY NEWS. The location were the school use to be is now part of a 3.8-acre Media District site designated for a Platt Cos. project that will include 220 condo units, 20,000 square feet of retail and restaurant space, a church and a child-care facility.
Sony Computer Entertainment America Inc. (SCEA) is staging its biggest presence ever at the 2005 Game Developers Conference, held March 7-11, 2005, in San Francisco to feature the newest PlayStation platform, PSP (PlayStation Portable), innovations for the PlayStation2 computer entertainment system and EyeToy, as well as tools and technologies designed to encourage game development on all platforms.
Sony experts in game development, programming and technology have been scheduled to speak at numerous sessions during the 19th annual conference.
The Game Developers Association of Australia (GDAA), the governing body for the Australian Videogame Industry, announced that Australian videogame companies are planning ahead and looking for talent at this years GDC to help fuel the booming games industry Downunder in years to come. During GDC 2005 in San Francisco, California (March 7-11, 2005), interested parties wishing to learn more are asked to stop by and visit the BigWorld Booth # 827 or Auran Booth # CP160 and talk with the GDAA executives.
BioWare Corp. announced its plans to continue the expansion of its development teams for its future videogame projects. The Edmonton-based company is actively recruiting for a variety of positions across numerous disciplines and will be taking those recruitment efforts across North America in the upcoming months.
On March 7, 2005, National Film Development Corp. Malaysia (Finas) Chairman Datuk Abdul Aziz Rahman urged Malaysian feature, documentary and animation filmmakers to look toward making films that appeal to an international market, reports BERNAMA. The Malaysian tends to make films that appeal to specific local tastes, which make quick profits.
Abdul Aziz said, "Most of them (movie producers) never think that messages conveyed to the audience should be given priority".
In a restructuring move to dedicate new efforts in the family arena, Universal Pictures has established Universal Studios Home Entertainment Family Productions and will step up efforts to produce product for the made-for-DVD arena.
(USHEFP), it was announced today by Mary Parent and Scott Stuber, respectively vice chairman, Worldwide production, Universal Pictures.
Atari Inc. it has entered into an exclusive, long-term agreement with Spark Unlimited, developer of CALL OF DUTY: FINEST HOUR, for worldwide publishing rights across all media to all future titles developed by the award-winning creative team at Spark Unlimited. The first joint project is in development at Spark for the next generation of consoles, and will be unveiled in greater detail in the spring, with an anticipated launch during the holiday 2006 season.
A new videogame rating category, E10+ (Everyone 10 and older), was introduced by the Entertainment Software Rating Board (ESRB), to help consumers more easily differentiate between games that have content appropriate for the whole family and games that are suitable for ages 10 and older.
Toronto-based Switch VFX, a visual effects studio specializing in photorealistic effects and CG character creation for feature films and television, marked its first anniversary in February. Switch VFX recently completed visual effects work on the Fox/Sci Fi Channel series pilot ANONYMOUS REX and on the GalaFilm Prods. TV movie TRIPPING THE WIRE, as well as title design for the CBC miniseries WHISKEY ECHO.
Like a typical Hollywood marriage, it seems that Peter Jacksons made in heaven collaboration with New Line has come upon irreconcilable differences. On Feb. 28, 2005, Jacksons Wingnut Films filled suit in Los Angeles claiming New Line and its subsidiary Katja Motion Pictures failed to properly calculate revenue from LORD OF THE RINGS: THE FELLOWSHIP OF THE RING, reports the AP.
The prospects are looking good for a national animation fund in the U.K., according to Jonathan Peel, chair of Millimages UK and chair of the animation policy group of the British producers association PACT.
RedOctane has established a new division of the company dedicated to publishing software with its first title for PlayStation2 to be announced in spring 2005.
"Launching into a new business segment with the publishing of videogames is a natural evolution for us," said Kai Huang, president of RedOctane. "We are committed to delivering the same high quality and fun found in our peripherals with the upcoming RedOctane software line."
The game will join a prestigious line of award-winning RedOctane videogame accessories.
The Honig Co. Inc., a leading boutique public relations agency, announced it is representing USA Index Corp., the U.S. subsidiary of Index Corp., a $20 billion diversified technology and media company based in Japan.
The Honig Co. will initially be undertaking a campaign aimed at raising awareness of Sega Animanium, a software product for the animation industry, and working to increase sales within North America.
New York City-based Noodlesoup Productions, Inc. is expanding to form a new original content creation division - Noodlesoup Entertainment that will solely focus on the development and production of high quality original animated feature films and television programming.
Noodlesoup Prods. is best known for its breakout Cartoon Network hit series, THE VENTURE BROTHERS, as well as for the work of its commercial divisions campaigns for MSN and Earthlink. Noodlesoup Ent. is already beginning development on several new programs with major U.S. distributors.
On Feb. 23, 2005, negotiations broke down in the ongoing dispute between the Spanish-language voices of THE SIMPSONS union and a Mexico City-based dubbing studio, spurring the cast to go on an official strike, reports HOLLYWOOD REPORTER.
The cast alleges that its employer, formerly known as Grabaciones y Doblajes, breached its contract with their union, the National Actors' Assn. Union, by hiring union-member actors. The company claims that the contract was made void when its administration and company name changed to Grabaciones y Doblajes Internacionales (GDI).
Sheer Force of Will Pictures Llc, a new feature film production company, has opened in Glendale, California. The new company is owned by co-founders Kevin Kutchaver, a visual effects veteran who concurrently remains head of visual effects design and production company HimAnI Prods. and feature film producer Linda Drake. Sheer Force of Will Pictures plans to produce two-three original feature films a year. The duo also announced the start of production on the companys first feature film, RESCUE ROCKET X-5, which begins in late February 2005 in Los Angeles.
Burbank-based Furious FX enters its sophomore year with a wide assortment of their first years work erupting into theaters and onto DVD shelves. Currently in production are MR. AND MRS. SMITH and FEVER PITCH.
The newly ignited facility has completed nearly 500 shots in the last 12 months. Their work is featured in more than 15 high profile films, including THE CHRONICLES OF RIDDICK, SPIDER-MAN 2, SKY CAPTAIN AND THE WORLD OF TOMORROW, FLIGHT OF THE PHOENIX, the upcoming UNDERCLASSMAN, as well as Sundance indie CHRYSTAL starring Billy Bob Thornton.
NVIDIA Corp. has opened a new design center in Bangalore, India, continuing NVIDIA's expansion in the Asia-Pacific region.
"India is an exciting market and well-positioned for phenomenal growth," said Jen Hsun-Huang, president and ceo, NVIDIA Corp. "We know from experience that India is home to some of the world's brightest engineers, as many of our top employees today are originally from there. India is strategic to NVIDIA and we are delighted to become a member of the Bangalore community."
SPIRITED AWAY director Hayao Miyazaki and a group of investors are set to buy Studio Ghibli from Tokuma Shoten Publishing Co., reports VARIETY.
Ghibli producer Toshio Suzuki, director Isao Takahata, Miyazaki and other top employees have already formed an independent company in Tokyo with a market capitalization of ¥10 million ($96,000) and are seeking between $96 million-$144 million to buy out the rights to all past Ghibli productions.
RUN LOLA RUN producer X Filme and David Groenewold's media investment group Promedium Gesellschaft fuer Medienfinanzierung have launched an animation firm, reports VARIETY. The Berlin-based firm will be run by Stephen Schesch, former head of the animation company Ellipse Deutschland.
Animation X has already begun its first feature, an adaptation of Tomi Ungerer's children's book THE THREE ROBBERS. The film has a budget of E3.5 million ($4.5 million) and is funded by Groenewold's GFP 2 fund.