Search form

Category: Business

Headline News SimEx Set To Acquire Iwerks

Toronto-based SimEx Inc., a major player in the location-based entertainment industry, has announced that it has signed a letter of intent to acquire Iwerks Entertainment Inc., a leading special venue production firm. SimEx will pay $0.63 per share for Iwerks, which values the deal at approximately $2.2 million. Once the deal is completed, Iwerks will keep its name and continue to work out of its Burbank, California offices, under its current team.

Headline News AOL Time Warner Combines TV Groups

In yet another consolidation move, AOL Time Warner has combined all of its TV operations under one roof. As a result, the WB Network's CEO Jamie Kellner will become the new CEO and chairman of an expanded Turner Broadcasting. He will oversee the WB, TBS, TNT, CNN and Cartoon Network. He replaces Terence McGuirk, who will continue as vice chairman and will assist Kellner in his transition. Kellner will relocate to Atlanta. What does this move have in store for animation?

Headline News Animation Stock Ticker For Tuesday, March 6, 2001

AWN's stock ticker features the most prominent publicly traded companies in the world of animation. AWN, Inc. makes available certain financial information from third party information providers. AWN does not give advice in any such fields, and has not reviewed, and in no way endorses the validity of such data. This information is provided solely as a means to keep our readers informed of the market performance and trends of certain companies. AWN strongly suggests that one seek advice from a competent professional regarding any investment or financial issues.

Headline News Pentamedia Acquires Improvision

India-based Pentamedia Graphics has agreed to buy California-based movie production company Improvision for US$19.8 million in stock. Pentamedia first teamed with Improvision as co-production and distribution partners for the animated film SINBAD: BEYOND THE VEIL OF MISTS. Currently, a sequel to that 3D motion-capture film is in production. Improvision's purchase will "help strengthen Pentamedia's pre-production and post-production skills and also its distribution reach in the United States," the company said.

Headline News Disney Dishes Out $350M For Winnie The Pooh

The Walt Disney Co. has purchased the rights to Winnie the Pooh for an amazing $350 million. Former rights holders Westminster School and the Garrick Club will receive $88 million each and the Royal Literary Society will gain $132 million. Disney first licensed the rights to Winnie in the 1960s and has been paying twice-yearly royalties to the owners. Disney will hold the copyright until it expires in 2026. The last relative of POOH creator A. A. Milne to hold a share in the copyright was Christopher Robin Milne.

Headline News Heavy.com Taps $3M In Funds

Swimming against the recent tidal wave of dotcom disasters, Heavy.com has announced a new US$3 million round of financing. In addition, Heavy has announced that David Pachter has been named president and COO. Prior to Heavy, Pachter served as senior VP of business development for Interactive Video Technologies, a streaming video solutions firm. "We feel extremely fortunate to have attracted a person of David's caliber," co-CEO David Carson said.

Headline News Animation Stock Ticker For Tuesday, February 27, 2001

AWN's stock ticker features the most prominent publicly traded companies in the world of animation. AWN, Inc. makes available certain financial information from third party information providers. AWN does not give advice in any such fields, and has not reviewed, and in no way endorses the validity of such data. This information is provided solely as a means to keep our readers informed of the market performance and trends of certain companies. AWN strongly suggests that one seek advice from a competent professional regarding any investment or financial issues.

Headline News BKN Unionizes, DIC In Contract Talks

The Motion Picture Screen Cartoonists, Local 839 IATSE, has won their organizing election at Bohbot Kids Network (BKN), a German-owned animation studio with offices in Los Angeles. The ballot tally was 38 in favor of union representation versus 3 against, with six challenged ballots. The original vote took place in June 1999, but was delayed by BKN attorneys' legal challenges over the election procedures. However, in late January 2001, the National Labor Relations Board overruled BKN's suit. The union hopes to negotiate a contract with BKN in the near future.

Headline News Imax Lays Off 130 In Restructuring

By Rick DeMott | Wednesday, February 21, 2001 at 12:00am

Imax Corp. has announced that due to a corporate restructuring it will lay off 130 of its 1,000 employees. The restructuring comes as a result of several theater-chains' recent bankruptcies, which has lowered the demand for large screen films. The company will consolidate its sound and projection systems manufacturing at its facilities in Mississauga, Ontario and will scale down film production at its studio in Birmingham, Alabama. Imax will take a first quarter 2001 loss as a result of restructuring costs.

Headline News Animation Stock Ticker For Tuesday, February 20, 2001

AWN's stock ticker features the most prominent publicly traded companies in the world of animation. AWN, Inc. makes available certain financial information from third party information providers. AWN does not give advice in any such fields, and has not reviewed, and in no way endorses the validity of such data. This information is provided solely as a means to keep our readers informed of the market performance and trends of certain companies. AWN strongly suggests that one seek advice from a competent professional regarding any investment or financial issues.

Headline News Appeals Court Upholds Copyright Extension

The U.S. federal appeals court has upheld a 1998 ruling, which extended the length of copyrighted material another two decades. In a 2-1 ruling, the three judge panel ruled that Congress does have the right to extend the time of a copyright. The arguments against the ruling were brought forth by a group of individuals and companies dealing with public domain works stating that the extension infringed on their First Amendment rights.

Headline News Stan Lee Media Files For Bankruptcy

Stan Lee Media, Inc. has announced that it is filing for Chapter 11 bankruptcy protection. In a statement, CEO and president Kenneth Williams said, "After looking at all of the available options, management and the board of directors concluded that the best way to maximize the company's value is to seek to sell the company in a Chapter 11 proceeding. As previously announced, the company has been reviewing strategic alternatives for the company since mid-December, and in conjunction with this review has had discussions with a number of potential buyers and strategic partners.

Headline News Swedes' Push Harder For Euro Ban On Kids' Ads

On February 13, 2001, the European Union organized in Stockholm for an expert seminar on Children and Young People in the New Media Landscape. One of the main topics in the discussions was Sweden's European initiative for banning television commercials aimed at children. The European Union has a rotating presidency system, where every member country controls the administration for a half-year term. As current leader, Sweden has placed the matter of TV ads on the top of the EU agenda for this term.

Headline News Illegal Pac-Man Games On The Web Leads To Lawsuit

By Rick DeMott | Thursday, February 15, 2001 at 12:00am

Twelve video game companies have filed a joint suit against four individuals accusing them of offering unauthorized versions of such games as PAC-MAN and DONKEY KONG on the Web. The suit seeks to shut down sites operated by Dasheill Ponce De Leon of Houston, John Sterling of Beaumont, Texas, Byron Beck of Monrovia, California and Kuei Lin Lo of Amherst, Massachusetts. The complaint also seeks monetary damages of US$150,000 for each copyright infringement.

Headline News Cinar Extends Bank Credit

By Rick DeMott | Thursday, February 15, 2001 at 12:00am

Cinar Corporation has entered into an agreement with its banks to extend its credit line until October 15, 2001. Of US$24 million previously outstanding, half of the amount is still with standing. In certain circumstances prepayments will be required prior to October 2001. The plagued children's producer also announced that it would release its unaudited 2000 financial statements by March 31, 2001. "Cinar continues to have a strong balance sheet.

Headline News Animation Stock Ticker For Tuesday, February 13, 2001

AWN's stock ticker features the most prominent publicly traded companies in the world of animation. AWN, Inc. makes available certain financial information from third party information providers. AWN does not give advice in any such fields, and has not reviewed, and in no way endorses the validity of such data. This information is provided solely as a means to keep our readers informed of the market performance and trends of certain companies. AWN strongly suggests that one seek advice from a competent professional regarding any investment or financial issues.

Headline News Z.com Closes Up Shop

Add one more name to the long list of the dotcom dearly departed. Z.com has announced that on Friday, February 16, 2001 they will be closing their doors for good. This move comes only a week after Icebox.com closed down an entertainment site that was in talks to merge with Z.com. The entertainment Website had high-profile backers such as Basic Entertainment, 3 Arts Entertainment, IdeaLab!, producer Jerry Bruckheimer and Maverick Records partner Guy Oseary. The demise of the company is a result of declining ad revenue and a weak syndication market.

Headline News Gaming Firm Spawns F/X Studio In North Carolina

North Carolina-based SouthPeak Interactive, a former SAS subsidiary that produced computer games, has spawned Alternate Route Studios, a new F/X house. Originally created to produce proprietary technology that promoted "feature film quality" gaming, SouthPeak transformed into Alternate Route after its core technology was sold off last year. Executive director Susan Ellis said, "We are aiming our sights on national spots and features. As part of a proof of concept, we pitched to produce SAS' first national campaign.

Headline News New F/X Studio Mr. X Launches

Visual effects supervisor Dennis Berardi and Toronto-based TOPIX/Mad Dog's Chris Wallace and Sylvain Taillon have launched Mr. X, Inc., a studio providing computer generated visual effects for feature entertainment. The new partnership will combine TOPIX's artists with Berardi, former visual effects supervisor of Toybox, supplying the ideas and directing. Berardi's F/X supervising credits include THE CELL, FIGHT CLUB, EXISTENZ, KEEPING THE FAITH, SUPERSTAR, THOMAS AND THE MAGIC RAILROAD, JASON X and BRIDE OF CHUCKY.

Headline News HIT Makes US Inroads With Barney Buy

London-based HIT Entertainment hopes that the big purple dinosaur named Barney can help pave roads into the States for the company's content. HIT has announced that it will acquire Allen, Texas-based Lyrick Corp., the creators of Barney, for US$275 million. As part of the deal, Lyrick will receive $165 million in new HIT stock and $110 million in cash. HIT hopes that Barney's wide success will help bring attention to HIT animated series such as KIPPER THE DOG, ANGELINA BALLERINA and BOB THE BUILDER, which is already an overwhelming success in the U.K, and made its U.S.

Headline News EM.TV CEO Puts Up $14M Of His Own Cash

EM.TV's CEO Thomas Haffa has announced that he will invest DM30 million (US$14 million) of his own money into the production house in an attempt to win back shareholder confidence said THE WALL STREET JOURNAL. As a result of the move on Wednesday shares in EM.TV rose 6% to 8.38 euros ($7.80). According to insiders EM.TV's bankers ordered the money as a way for the company to hold an estimated $750 million in debt at bay. In the past year, EM.TV shares have plummeted more than 90% directly attributed to extreme profit warnings and reports of fiscal mismanagement.

Headline News Kaydara Gains $5M In Venture Capital

By Rick DeMott | Wednesday, February 7, 2001 at 12:00am

Kaydara Inc., a worldwide leader in real-time 3D/2D production systems for film, television, games and broadcasting, has announced that it has received an additional US$5 million in funding. The investment will support future product development and marketing strategies. Investissement Desjardins, a company known for its interest in fledgling technology companies, led this first round of investment.

Headline News Realviz Raises $9.39 Million

Realviz recently announced that it has completed a third round of financing worth 10 million euros (US$9.39 million). The money will help with the future development of the company and their products. This new fundraising will enable Realviz to finance their international expansion programme in the U.S.A., Europe and Asia, as well as to finance a new Internet solutions business unit.

Pages