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Category: Business

Online Headline News

Disney Online Completes Acquisition of Kaboose Internet Assets

Press Release Disney Online

NORTH HOLLYWOOD, Calif. -- Disney Online announced today it has completed the purchase of key Internet assets from Kaboose, Inc., including Web sites,,, and, among others. As a result of the acquisition, a new group of properties has been formed, the Disney Online Mom and Family Portfolio, which will be led by Emily Smith, vice president, Disney Online.

Time Headline News

Time Warner to Separate from AOL

Time Warner will spin AOL off into an independent company, according to CNN, after merging in January 2001.

In a statement, Time Warner CEO Jeff Bewkes said, "We believe that a separation will be the best outcome for both Time Warner and AOL."

The merger eight years ago was seen as a laudable attempt to merge old and new media, but Time Warner's stock has plummeted around 80 percent in the time since. It owns 95 percent of AOL, and will buy the remaining stake from Google.

Visual Headline News

Pixomondo Opens New Flagship Studio in Los Angeles

Press Release from Pixomondo

Venice, California (May 26, 2009) -- International visual effects company Pixomondo has opened a new flagship studio in Los Angeles, California. Extending its global reach, Pixomondo now has a worldwide network of studios located in Berlin, Frankfurt, Munich and Stuttgart, as well as London and Shanghai, from which it produces feature film, television and commercial visual effects.

Headline News

Hasbro Closes Investment in Joint Venture with Discovery Communications

Press Release from Hasbro and Discovery Communications

PAWTUCKET, R.I. & SILVER SPRING, Md. -- Hasbro, Inc. (NYSE:HAS) and Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) announced today the closing of Hasbro's purchase of a 50 percent interest in a joint venture which holds the Discovery Kids Network in the United States. Hasbro and Discovery plan for the joint venture to create a rebranded television network dedicated to high-quality children's and family entertainment.

Headline News

WB Moves to Acquire Troubled Midway Games

Midway Games Inc. today announced that it has entered into a "stalking horse" asset purchase agreement with Warner Bros. Ent. Inc., and filed a sale and bid procedures motion with the bankruptcy court to conduct the sale of the company’s assets pursuant to Section 363 of the United States Bankruptcy Code. The bid procedures will provide for notice to be given to third parties of the pending sale to Warner Bros. Ent. and offer the opportunity for interested parties to bid on the company's assets.

Headline News

Open Effects Association Formed at NAB 2009

Press Release from OFX Association

Seven companies joined forces at NAB last month to launch The Open Effects Association. This non-profit, UK-based company aims to develop and promote open standards across the visual effects community. Founding members are Assimilate, Autodesk, Digieffects, FilmLight, The Foundry, GenArts and RE:Vision Effects. These companies have helped artists create ground-breaking VFX shots on just about everything that hits cinema screens.

Studio Headline News

Fatkat Animation Shutters

Miramichi, Canada-based Fatkat Animation has shut its doors. Studio founder Gene Fowler announced the studio's closure on the company's blog. Fowler blames the company's recent production of THREE DELIVERY as "the straw that broke the camel's back." Fatkat had recently completed work on the Animation Collective production, which Fowler called "most demanding and torturous production I have ever seen." This combined with the Canadian government pulling funding from the studio led to it closing.

Headline News

Creditors Sue Midway, Redstone

Creditors have filed suit against bankrupt gaming publisher Midway Games, according to GAMASUTRA. The suit names majority stakeholder Sumner Redstone, his National Amusements holding company, investor Mark Thomas and Midway chairman Shari Redstone, as well as former and current members of the board.

Animation Headline News

Rebel Rebel Rebrand For Blue Zoo

Press Release from Rebel Rebel / Blue Zoo

Award-winning animation studio Blue-Zoo Productions today announces a strategic re-brand for its advertising work under the name Rebel Rebel. Comprising of Blue-Zoo's team of in-house creatives and leading 3D talent, Rebel Rebel offers bespoke and high-quality character animation to the advertising world. Commercial representation is continued by Dept.A at HSI London.

Japan Headline News

CPLG Opens Office in Japan

Press Release from Copyright Promotions Licensing Group

Tokyo, Japan (May 13, 2009) -- Copyright Promotions Licensing Group (CPLG) continues to expand its international reach with the opening of CPLG Japan, the company's first office in Asia. As Managing Director of CPLG Japan, Hideki Kunugiyama will develop and grow the company's current licensing programs to include Asia.

CPLG Japan is the Japanese affiliate of the CPLG group of companies, recently acquired by Cookie Jar Entertainment.

Media Headline News

Studio100 Groups German Subsidiaries Under Studio100 Media

Press Release from Studio100

Munich, May 11, 2009 -- Belgian media company Studio100 has merged its German subsidiaries Studio100 Media N.V. & Co. KG, EM.Entertainment GmbH and Junior.TV GmbH & Co.KG. Since April 19, 2009 all three companies are now trading under the name of Studio100 Media GmbH. In July 2008 Studio100 took over the children's and youth entertainment unit of EM.Sport Media AG (now known as Constantin Medien AG) when it acquired EM.Entertainment and Junior.TV GmbH & Co.KG.

Media Headline News

Entertainment Rights to Operate as Classic Media

C21 MEDIA reports that what was formerly Entertainment Rights will operate as Classic Media. Subsidiaries Classic Media and Big Idea were acquired last month by Boomerang Media and private equity group GTCR.

Big Idea, owner of the VEGGIE TALES line, will continue to operate under its own name. Boomerang is under the management of Eric Ellenbogen and John Engelman, who founded Classic Media.

Boomerang plans to invest $200 million in equity capital into ER's franchises, which include CASPER THE FRIENDLY GHOST and HE-MAN.

Animation Headline News

Disney/Pixar Vancouver to Open

THE HOLLWYOOD REPORTER is saying that Disney/Pixar is set to open a new animation studio in Vancouver this fall to work on the company's specialty projects. Ed Catmull told the trade that the small studio would create short-form animation for theme parks, DVDs, TV and theatrical exhibition.

Headline News

Sex Offends Must Resister Gamer Tags in Texas

Game Culture has reported on a new bill passed in Texas that will require sexual offenders to register online avatars and gamer tags with the state. HB 22 specifically states that offenders must register their screen names and inform the state when they change any "Internet communication identifier."

Headline News

Weta Opens Research Branch

Weta Digital is planning a branch dedicated to advanced computer graphics research called Transfx, reports VARIETY. VFXWorld reported in April that Sebastian Sylwan had joined Weta as head of research and development, and now he will oversee the new arm, which hopes to bridge the gap between R&D and production. Previously, Sylwan worked for Autodesk as senior industry manager for film and TV.

Imax Headline News

IMAX Posts Q1 Increase

IMAX Corp. today reported total revenues of $33.7 million for the first quarter ended March 31, 2009, a 43% increase compared to total revenues of $23.5 million for the first quarter of 2008. Operating income increased to $2.0 million, a $7.6 million increase compared to last year's operating loss of $5.6 million. The Company's first quarter net loss per diluted share of $0.06 compares favorably to the net loss per diluted share of $0.25 for the first quarter of fiscal 2008.

Games Headline News

EA Redwood Shores Becomes Visceral

Electronic Arts Inc. announced that its EA Redwood Shores Studio has been renamed and rebranded Visceral Games. The newly named studio will focus on developing action games with state-of-the-art technology, visuals, audio, and gameplay. The studio is currently working on the highly anticipated games, DANTE’S INFERNO and DEAD SPACE: EXTRACTION, as well as two other unannounced titles.

Million Headline News

EA Reports Fourth Quarter and Fiscal Year 2009 Results

Press Release from Electronic Arts Inc.

REDWOOD CITY, Calif. -- Electronic Arts Inc. (NASDAQ: ERTS) today announced preliminary financial results for its fourth quarter and fiscal year ended March 31, 2009.

Fiscal Fourth Quarter Results (comparisons are to the quarter ended March 31, 2008)

Million Headline News

Marvel Ent. Flat For First Quarter

Marvel Entertainment, Inc. reported operating results for its first quarter ended March 31, 2009. Marvel also raised the low end of its financial guidance for 2009, reflecting a stronger than expected first quarter performance in its licensing and film production segments and a decline in the anticipated full year tax rate.

Headline News

The Walt Disney Company Reports Second Quarter Earnings

The Walt Disney Company today reported earnings for its second fiscal quarter and six months ended March 28, 2009.

For the quarter, revenues were down seven percent and net income down 46 percent from the same quarter in 2008. For the six months ending on March 28, 2009, revenue was down eight percent and net income fell 39 percent.

Licensing Headline News

4Kids and the RAF to Part Company

Press Release from 4Kids Entertainment International Ltd.

4Kids Entertainment International Ltd. and the Royal Air Force have ended their agency relationship following a competitive tender process.

4Kids was awarded the licensing agency contract by the Ministry of Defence (MOD) in October 2004 to help raise the profile of the Royal Air Force as a consumer brand. The agreement was thought to be the first partnership with the MOD of its kind.

Disney Headline News

Disney Dances with Hulu

Hulu and The Walt Disney Company announced that Disney, through a subsidiary of ABC Enterprises Inc., has agreed to join NBC Universal, News Corp. and Providence Equity Partners as a joint venture partner and equity owner of Hulu. Upon closing, the agreement will enhance Hulu’s programming lineup through the expanded online distribution of Disney’s most popular current and library primetime series and library feature films.