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Headline News Macromedia announces revenues increase

Macromedia (NASDAQ:MACR) has announced a 47% increase in revenues for thefourth quarter ended March 31, 1999. Revenues for the fourth quarter were$44,097,000 as compared with $30,012,000 in the same period a year ago.Gross profit increased 44% to $39,867,000 as compared with $27,653,000 inthe fourth quarter a year ago. Net income rose to $7,343,000, or $0.16 pershare, during the fourth fiscal 1999 quarter, compared to net income of$1,991,000, or $0.05 per share, a year ago.

Headline News Katzenberg vs Disney; another round

In opening statements in the second phase of a $250 million breach-of-contract lawsuit, Jeffrey Katzenberg's lawyer Bert Fields presented a series of memos to bolster his argument that Disney concocted a contract argument over an incentive bonus to deprive Katzenberg of the money he was owed for making the Disney company a success while he was the chief of Disney's film entertainment division. During Katzenberg's first few years at Disney, operating income went from $2.3 million in 1984 to $186.3 million in 1988.

Headline News Disney reports second quarter earnings

Walt Disney Co.'s earnings plunged almost 41% in its second quarter. Although Disney said it expects improvement in the second half of the year, it still plans to review its operations in a bid to make them more efficient and increase cash flow. The Burbank, California-based media and entertainment giant turned in net income of $226 million, or 11 cents a diluted share, for the quarter ending March 31, compared with $384 million, or 18 cents a diluted share, in the same period a year ago.

Headline News Pixar Announces First Quarter 1999 Financial Results

Pixar Animation Studios' revenues for the first quarter were $3.4 millioncompared with $5.0 million in the first quarter of 1998. Net income for thefirst quarter was $900,000 compared with $3.8 million for the first quarterof 1998. Diluted earnings per share for the first quarter were $0.02compared with $0.08 for the first quarter of 1998.

A BUG'S LIFE has earned $162 million in domestic box office receipts and$190 million in international box office receipts, totaling $352 million

Headline News Silicon Graphics changes name to SGI

Silicon Graphics, Inc., the 17-year-old high-tech company known forbreakthrough graphics in movies such as JURASSIC PARK, is changing its nameto SGI. The change is part of a major branding shift, which also includes anew logo, national advertising and consolidation of hundreds of separateproduct brands. SGI decided to change its name after a branding consultantfound that while the company's products were perceived as innovative andvisionary, the company was viewed as a niche-oriented, high-performance 3D

Headline News HARVEY posts losses

HARVEY ENTERTAINMENT, whose roster of animated properties include CASPER,THE FRIENDLY GHOST, RICHIE RICH, LITTLE AUDREY, and BABY HUEY, has posted a1998 fourth quarter net loss of $5,869,000, compared to a net income of$627,000 for the fourth quarter in 1997, and a net loss of $11,238,000 forthe year ended December 31, 1998. Net operating revenues for the year-ended1998 were a negative $1,569,000, compared to revenues of $15,404,000 in1997. Meanwhile, the company announced that it has entered into a

Headline News Disney may convert internet holdings

Disney, the Burbank, California entertainment company, is considering waysin which it could package its Disney Online assets together with thecompany's 43% stake in Infoseek Corp., of Sunnyvale, California, for apublic offering, according to THE WALL STREET JOURNAL. Disney and Infoseekjointly created and own the Go Network Internet portal launched earlierthis year. Disney Online operates the Disney.com Web site. Disney hasrecently begun negotiations to take majority control of Infoseek sooner

Headline News C-3D Digital acquires Strata

C-3D Digital, Inc. has increased its content capabilities for its 24 hour3D channel by executing a definitive agreement for the acquisition ofsecurity interests in the technology and principle assets of Strata Inc., apremier name in 3D computer graphics. "The acquisition of Strata assets andtechnology has been selected for its strategic fit into the C-3D DigitalInc.'s network of companies for the ability to add eye-popping 3D effects,that Strata is famous for, to our growing content currently shown on the 3D

Headline News Cinar approved for stock listings

CINAR Corp. has announced that the company's options have been approved forlisting on the American Stock Exchange (AMEX), the Chicago Board OptionsExchange (CBOE) and the Philadelphia Stock Exchange (PHLX). CINAR optionsbegan trading on all three exchanges under the symbol "CUF" on Wednesday,April 7, 1999. CINAR Corporation is an integrated entertainment andeducation company involved in the development, production, post-productionand worldwide distribution of non-violent, quality programming and

Headline News Motion Factory funded

The Motion Factory, developer of the award-winning Motivate IntelligentDigital Actor(TM) System, has announced the completion of a new round ofventure funding from BankAmerica Ventures, SofInnova, and Digital MediaGroup. With the newly committed funds totaling $2 million, The MotionFactory plans to accelerate the development of the Motivate system and willinvest in expanded customer support services. The company also recentlyannounced development is underway to support Sony PlayStation 2, Sega

Headline News Marvel Gets Credit

Marvel Enterprises has secured a $60 million credit line from Citibank. This lends credence to rumors that it is interested in taking over Harvey Entertainment which owns the rights to many animated and comic book characters such as Casper the Friendly Ghost and Richie Rich. Three years ago, Marvel Entertainment Group filed for bankruptcy. Toy Biz, which had been a subsidiary, acquired the bankrupt Marvel Entertainment Group, then created Marvel Enterprises as the umbrella company.

Headline News Neurones rescues Fantome

By Amid Amidi | Wednesday, March 31, 1999 at 12:00am

After a long struggle, Fantôme, one of Europe's premier producers of 3D animation, was put into receivership. Founded in 1985, Fantôme was a pioneer of completely computer-generated animation TV series. In addition to an Emmy, Fantôme has garnered more than 40 international prizes, and their 3D television series INSEKTORS (26 13-minute segments) has sold in 160 countries.

Headline News Loop Filmworks open for business

Award-winning animation director David Chartier has launched Loop Filmworks (www.loopfilmworks.com), a new animation production company. His stop motion animated spot, "Talk Show," won both the Gold Medal and Grand Prix award at this year's New York Festival. Since starting in the industry in 1991, he has worked for Olive Jar Studio and Curious Pictures, and recently designed two stop motion/cut-paper animation campaigns for Nickelodeon. "I started Loop Filmworks as a means of rededicating myself to creating innovative animation for advertising," said Chartier.

Headline News Mo-cap studio hOuse of mOves has moved

By Amid Amidi | Wednesday, March 17, 1999 at 12:00am

One of the largest motion capture studios in the world, hOuse of mOves (HOM), has moved to a larger facility in Marina del Rey, California, situated near Los Angeles International Airport. The larger space includes a 3,500-square foot stage with a 24-foot ceiling, along with an additional 3,500 sq. ft. of space for executive offices and conference rooms. HOM has also upgraded their motion capture hardware to include a new system with 12 cameras capturing at anywhere from 60-240 frames per second.

Headline News Sony forms new kids entertainment group headed by Sander Schwartz

Sony Pictures Entertainment (SPE) has formed a new division (unnamed as of publication) to develop character-based entertainment primarily targeted to the kids market in live action, CGI, cel animation and other media. This is in addition to the family films, which will continue to be developed and produced by Columbia Pictures. Sander Schwartz has been named president of this new entertainment group, in addition to his current responsibilities as head of SPE's Columbia TriStar Television Children's Programming, which will fold into this new division.

Headline News Imax and Mainframe join forces to produce bigscreen 3D films

Imax Corp. has agreed to make a strategic investment in Vancouver-based Mainframe Entertainment, producers of the 3D computer-animated REBOOT and BEAST WARS. The company will invest CAN$16 million (U.S.$10.6 million) into Mainframe to acquire an equity and convertible senior debt, giving Imax an approximate 30% stake in the company. As part of the deal, Imax and Mainframe will co-produce 3D animated films for release in IMAX theaters and other markets. Their first collaboration, GULLIVER'S TRAVELS, is expected to be released to IMAX theaters by summer 2001.

Headline News DreamWorks TV shuts down

In a move to consolidate, DreamWorks Television Animation has closed down, and the direct-to-video unit has merged with the feature division. A DreamWorks spokeswoman stated, "We are currently reorganizing our animation divisions so we are all operating under one umbrella. While we have decided not to continue pursuing television animation opportunities at this time, we are continuing to develop and produce animation for both feature films and direct-to-video." The TV division, spearheaded by Jeffrey Katzenberg and Steven Spielberg, opened shop in 1996 headed by Gary Krisel and David Simon.

Headline News Phil Roman Entertainment Formed

Six-time Emmy-winner Phil Roman, who in February departed Film Roman, the animation company he founded in 1984 [AF 02/16/99], has announced the formation of his new company, privately owned Phil Roman Entertainment in Studio City, California. Roman is president and chief executive officer of the full service animation firm. The new company will create, develop and produce traditional and computer animation for TV, features, commercials and promotions. The Roman company is expected to announce a number of projects soon.

Headline News Rhythm & Hues merges with VIFX

Visual effects and animation studio Rhythm & Hues has purchased the VIFX portion of Marina del Rey based-effects house Blue Sky/VIFX from 20 Century Fox for approximately $5 million. Under the Rhythm & Hues banner, the combined companies will be the largest privately owned visual f/x house in Los Angeles. The core management team at VIFX will remain intact although layoffs are expected for some of VIFX's 100+ employees because of an overlap of job functions once the merger is completed.

Headline News Pearson Television purchases animation producer EVA

By Amid Amidi | Thursday, February 18, 1999 at 12:00am

London-based Pearson Television has purchased EVA Entertainment for £2 million ($3.3 million). EVA, a five year-old pan-European venture, produces and distributes children's animation with a library of around 200 half-hours including SPOT THE DOG and BILLY THE CAT. The company was also one of four co-producers on BBC2's animated series, REX THE RUNT. Pearson's recently appointed director of animation John Bullivant will oversee EVA. However, the studio will continue to be run by EVA's managing director Mikael Shields, who'll function as chief operating officer.

Headline News DOWNTOWNERS' writers sign WGA agreement

By Amid Amidi | Thursday, February 18, 1999 at 12:00am

The Writers Guild of America (WGA) has reached an agreement with Castle Rock Television for a collective bargaining contract covering the writers of DOWNTOWNERS, an animated series premiering on the primetime WB line-up this fall. The dispute had initially begun when writers on the show were unhappy with the benefits of the union that was representing them, the IATSE Cartoonists Local 839. A key point in the agreement was recognition of the WGA as the exclusive bargaining representative of primetime animation writers employed by Castle Rock Television and Downtowners Productions.

Headline News Pixar posts slow fourth quarter

By Amid Amidi | Sunday, February 14, 1999 at 12:00am

Pixar Animation Studios took a bit of a dip in the fourth quarter while still awaiting the cash flow from their latest blockbuster feature A BUG'S LIFE. The company reported fourth-quarter profits of $1.1M for the period ending January 2, down from $4.4M for the same period in 1997. Quarterly revenues dropped from $7.1M to 3.1M, with revenue generated from sales of services and tools to other producers in Hollywood, as well as proceeds trickling in from their first film TOY STORY (1995).

Headline News Klasky Csupo getting ready for a big move

By Amid Amidi | Tuesday, February 2, 1999 at 12:00am

After the success of "The Rugrats Movie" and plenty of hit television shows, Klasky Csupo is relocating to a bigger building at 6353-57 Sunset Boulevard, across from the Hollywood Cinerama Dome. The 6-floor, 95,000 square ft., state-of-the-art glass and steel structure was originally designed as an auto showroom for Mercedes-Benz, but will now hold up to 500 Klasky Csupo employees. Los Angeles Mayor Richard Riordan says, "This is great news for the heart of Hollywood.

Headline News Stan Lee Media formed

By Amid Amidi | Thursday, January 28, 1999 at 12:00am

Legendary Marvel comic book creator, Stan Lee, has formed a new company, Stan Lee Media, to harness the power and global outreach of the Internet to create a new world of superheros. The first venture of the newly formed company is StanLee.net (http://www.stanlee.net), which is being constructed to attract and accommodate the largest global assemblage of young comic book enthusiasts, who will be engaged in community creation on the Internet with Stan Lee and his new universe of superheros.

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