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Category: Business

Million Headline News

Paul Allen Sells $75M Worth of DreamWorks Ani Stock

By Rick DeMott | Wednesday, November 14, 2007 at 12:00am

Paul Allen has unloaded another 2.4 million shares of DreamWorks Animation SKG Inc. stock worth approximately $75 million. The sale leaves the billionaire with 4.2 million shares, which are owned by his DW Investment II Inc. Back in August, he sold 10 million shares. The effective sale date was Nov. 8th, when the stock was valued at $31.06 per share.

Animation Headline News

Kevin Geiger Offers "Animation Options"

Animation industry veteran Kevin Geiger has founded Animation Options, a company specializing in computer animation production supervision, pipeline and workflow consultation, technical direction and instruction.The new company leverages on Geiger's unique combination of experience with major studio production, the indie scene, academia and the international lecture circuit.

Headline News

Jetix and Canalsat Resume Negotiations

Jetix Europe N.V. today announced that negotiations with Canalsat over carriage of its French channel on the platform have resumed. As part of the discussions, both parties have agreed to extend carriage from Dec. 15, 2007 to March 31, 2008, ensuring the channel will continue to air on Canalsat while a new deal is negotiated.

Headline News

Ben Ammar Buys Stake in Rainbow

Film producer and Weinstein company board member Tarak Ben Ammar has bought a 2% stake in WINX CLUB creator Rainbow. Ben Ammar will also join the board of Rainbow.

Rainbow will release its first feature film, WINX CLUB: THE SECRET OF THE LOST KINGDOM, on 500 screens in Italy later this month.

Iginio Straffi, who directed the WINX CLUB feature, founded Rainbow in 1995. The CG studio has also produced the TV series TOMMY & OSCAR, MONSTER ALLERGY and PREZZY.

Headline News

Parthenon Acquired by Private Investor

Private investment and business management group Arkaga has picked up Parthenon Ent., reports C21 MEDIA. The U.K. producer and distributor of kids and factual programming will join entertainment rights company Entara in Arkagas holdings. Together the two companies will enable Arkaga to become "a new force in family entertainment production and rights management" with a presence in the U.K., the U.S. and Germany.

Headline News

Chorion Acquires The Copyrights Group Ltd

Chorion Ltd, the U.K.-based owner and manager of literary-based brands, announced the acquisition of The Copyrights Group Ltd, a leading independent licensing business, for an undisclosed sum.

Through this acquisition, Chorion and Copyrights will together represent such brands as BEATRIX POTTER, PADDINGTON BEAR, Raymond Briggs' THE SNOWMAN, SPOT and HORRIBLE HISTORIES.

Games Headline News

WB Buys TT Games

Warner Bros. Home Ent. Group announced it has entered into an agreement to acquire TT Games, which encompasses Traveller's Tales, one of the world's largest independent game developers, and TT Games Publishing, the U.K.-based game publisher behind the LEGO STAR WARS videogames and BIONICLE HEROES.

Universal Headline News

NBCU Goes to Jupiter for Japanese Sci Fi

NBC Universal Inc. and Jupiter Telecommunications Co., Ltd. have signed an agreement for NBC Universal to acquire Jupiter Telecommunications' subsidiary company JSBC2, and launch Sci Fi Channel on J:COM.

Under the terms of the agreement, NBC Universal will acquire 100% of the equity of Jupiter Telecommunications' subsidiary company JSBC2, which currently holds the broadcasting license for Reality TV on the SkyperfecTV platform in Japan. The deal is expected to close in April 2008.

Headline News

Disney Reports High Earnings for the Fiscal Year

The Walt Disney Co.'s operating income for its studio entertainment segment surged 65% to $1.2 billion for the year ended Sept. 29, 2007, even though revenues were flat at $7.5 billion. For the quarter, segment operating income decreased 21% to $170 million and revenues decreased 24% to $1.5 billion.

Headline News

ManHunt2 Blasted for Mental Illness Link

The National Alliance on Mental Illness (NAMI) today condemned the controversial videogame MANHUNT2, calling its portrayal of mental illness irresponsible and stereotyped. "NAMI asks Rockstar Games to recall or further modify the videogame MANHUNT2 due to its irresponsible, stereotyped portrayal of mental illness," NAMI executive director Mike Fitzpatrick said in a statement. "We also ask retailers to be responsible in responding to public health concerns."

Animation Headline News

BeanstockTV Shuts Down

By Rick DeMott | Wednesday, October 31, 2007 at 12:00am

BeanstockTV ApS has announced that it is shutting down. Since August 2007, it has been looking for further investment to keep BeanstockTV afloat. Now, having spent its initial investment, the company is filing for bankruptcy.

As of today, BeanstockTV's VOD animation website will go offline. Users who have prepaid money into their account will not receive a refund.

Headline News

Critics Lash Out at BBC Children's Cuts

Prominent members of the U.K. children's sector have criticized the recently announced staff and budget cuts at BBC Children's, calling the decisions "disappointing" and "a betrayal," C21 MEDIA reports. The reductions, which include the loss of 88 jobs and the equivalent of a US$201 million cut in programming budgets by 2012/13, will likely have repercussions throughout the industry.

Animation Headline News

Sony Ponders Equity Partnership for Imageworks & Animation Units

Sony Pictures Ent. confirmed that it is pondering an equity partnership for Sony Pictures Imageworks & Sony Pictures Animation, as reported in THE NEW YORK TIMES.

The studio is considering selling up to half of Sony Animation, according to THE TIMES, and has hired the investment bank Houlihan Lokey Howard & Zukin to assess the value of the two divisions, which is estimated at around $500 million.

Company Headline News

Troll Company Countersues in Ongoing Dispute

Troll Company, the Danish owner of the rights to the iconic Good Luck Troll doll, has filed a $20 million lawsuit against brand management company DIC Ent. In a lawsuit filed today in Los Angeles Superior Court, Troll Company charged that DIC fraudulently obtained licensing rights to the Troll by hiding its true financial condition and then conducted such a disastrously underfunded roll-out that the Troll was transformed from a "multi-billion dollar renowned property" into one that was unmarketable.

Business Headline News

Cookie Jar Sweetened with New Resources

Cookie Jar Ent. has secured an expanded $40 million line of credit and has added Bank of America to its strategic lending relationships, led by RBC Capital Markets.

The extra capital will be used to finance an ever-growing lineup of new production in support of hit show THE DOODLEBOPS, evergreen classics such as CAILLOU, ARTHUR, and JOHNNY TEST, the newly launched HURRAY FOR HUCKLE and MAGI-NATION, and an extensive development slate for 2008 and 2009.

Headline News

Antonio Banderas & Kandor Graphics Form Toon House

Antonio Banderas' Green Moon Producciones and Spanish animation studio Kandor Graphics have come together to form an as yet unnamed feature animation company, reports VARIETY. The 50/50 joint venture plans to produce five features in the next 10 years.

The first film, which has already started production, is THE MISSING LYNX. Kandor partners Manuel Sicilia and Raul Garcia are directing. Enrique Posner's YaYa! Films and Manuel Cristobal's Perro Verde are producing. 6 Sales is handling international sales.

Million Headline News

Shrek the Third Lifts Third Quarter for DreamWorks Animation

SHREK THE THIRD was once again the largest driver of the quarter for DreamWorks Animation SKG Inc., contributing approximately $92.1 million in revenue, primarily from its significant international box office receipts in the period. To date, the film has reached approximately $793 million in box office on a worldwide basis, making it the third-highest-grossing animated film of all time.

Production Headline News

Grasshorse Goes East

Los Angeles-based Grasshorse Technologies, Inc. announced its decision today to relocate and expand its services to the state of Iowa. The production company's decision comes in response to recent legislation providing tax incentives to attract the film industry, job diversity, and talent to the state.

"The Iowa Film, Television and Video Project Promotion Program (IFTVP) has created fertile ground for companies to relocate to Iowa. It lays the foundation for a very exciting and burgeoning industry," stated Stephen Jennings, co-president and founder of Grasshorse.

Headline News

Hong Kong Raid Nets 10,000 Products Used to Play Pirated Nintendo Software

At Nintendo's request, the Hong Kong High Court has intervened to help stop a global distribution operation involving game-copying devices and modification chips that violate its copyrights and trademarks in the Nintendo DS and Wii systems.

Services Headline News

Media Heads Unveil Guidelines for Online Content

Several of the world's leading Internet and media companies have announced their joint support for a set of collaborative principles that enable the continued growth and development of user-generated content online and respect the intellectual property of content owners.

Production Headline News

New Canadian Animation Studio Formed

Toronto-based independent production houses Rocket Science Visual Effects and Screen Door have joined forces to create Fandango Animation, reports KIDSCREEN. Former Nelvana exec and industry veteran Heather Walker will be Fandango's lead production executive, charged with shepherding the company's first slate of projects into production in both traditional and new media platforms. With a number of shows already in development, Fandango is currently looking for co-production partners.

Headline News

BBC Children's To Be Cut by 20%

The BBC has confirmed that 88 of the 426 jobs in its children's department will be eliminated as part of the corporation's downsizing, C21 MEDIA reports. The news follows the earlier announcement that 1,800 total jobs will be cut as part of the "Delivering Creative Futures" strategy. While a spokesman confirmed that the jobs would be cut over the next three years, it wasn't clear which sub-divisions would be most affected, as the BBC intends to first ask employees to take voluntary redundancy.