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Category: Business

Wednesday Headline News

Sony to Buy MGM for $5 Billion?

Word has leaked out that Sony Corp. is in talks to buy Metro-Goldwyn-Mayer Inc. for a cash deal valued at approximately $5 billion, according to AP and other news organizations. Sony and two private firms, Providence Equity Partners and Texas Pacific Group, have been examining MGM's books in anticipation of an offer that might take place in several weeks.

A deal would likely fold MGM into Sony Pictures Ent. and expand Sony's film library with an additional 4,200-plus titles, including lucrative United Artists franchises such as James Bond and the Pink Panther.

Disney Headline News

War Over Eisner Vote Details Heats Up Between Disney & Disney

The ongoing war between The Walt Disney Co. and ex-Disney board members Roy E. Disney and Stanley P. Gold has flared up again with the two sides debating the actual percentage of No Confidence votes received by Disney ceo and former chairman Michael Eisner and board member and newly elected chairman George Mitchell.

Studio Headline News

SPIN Opens West Coast Studio

SPIN takes its vision to Vancouver, creating a new studio, SPIN West VFX. The new studio (SPIN is headquartered in Toronto with another shop in Atlanta) has hit the ground running, landing vfx work on the much-anticipated television miniseries STEPHEN KING'S KINGDOM HOSPITAL. Close behind the Stephen King production is work for STARGATE SG1 (Sci Fi Channel) and SPYMATES (Keystone Pictures).

Home Headline News

Ex-Disney, UPN, MGM, Artisan Execs Form First Family Entertainment

Dean Valentine, former UPN president/ceo and president of Walt Disney Television, has partnered with prominent entertainment execs Richard Cohen and Nicolas Van Dyk to form First Family Entertainment in Los Angeles. The new company will develop and produce niche-oriented, direct-to-DVD/video programming for family audiences. The new venture already has inked a home video distribution deal with MGM.

International Headline News

French Toon Houses Attending Beirut Showcase

13 member-companies of TV France International will be presenting programs at the Second Regional Showcase in Beirut at the Sofitel Gabriel, April 20 21, 2004. To date, 44 executives, representing Bahrain, Egypt, the United Arab Emirates, Jordan, Kuwait, Lebanon, Oman, Syria, and Tunisia, have confirmed their presence. The Film and Television sections of the French embassies in Amman and Beirut are supporting the event, which is aimed at promoting the French productions in the Near and Middle East.

Visual Headline News

VFX Vet Yeatman Forms Whamaphram Toon House

Visual effects vet and former Secret Lab head Hoyt Yeatman has formed Whamaphram Prods. to produce CG animated features, reported VARIETY. Burbank-based toon house will specialize in completely animated and hybrid live-action/animated films.

The new studio is pitching its first project G-FORCE to several studios. The live-action family adventure would chronicle the NSA's top secret unit of highly intelligent, talking animals. Yeatman plans to direct the film.

Disney Headline News

Roy Disney Sues Walt Disney Co.

Roy Disney sued the Walt Disney Co. on April 8 to release information on how many employees participated in last month's protest vote against the reelection of chief exec Michael Eisner, the LOS ANGELES TIMES reported.

In the suit filed in Delaware Chancery Court, Disney asked the court to make the company show documents, records, proxies and ballots from the annual meeting in Philadelphia.

Headline News

Simpsons Cast Spur Work Stoppage

The voice cast of THE SIMPSONS has stopped working to force Twentieth Century Fox TV to finalize their new contracts, reported VARIETY. The cast's previous three-year contracts expired several months back. Apparently, the cast has not showed up for two script readings over the past few weeks. Actors participating in the stoppage include Dan Castellaneta (Homer), Hank Azaria (Moe, Apu, Comic Book Guy), Harry Shearer (Mr. Burns and others), Yeardley Smith (Lisa), Julie Kavner (Marge) and Nancy Cartwright (Bart).

Disney Headline News

Pooh Case Dismissed

Los Angeles Superior Court Judge Charles McCoy dismissed the 13-year-old lawsuit against the Walt Disney Co. brought by Stephen Slesinger Inc., the owners of the Winnie the Pooh merchandising rights, after concluding that they "tampered with the administration of justice" by hiring a private investigator to take documents from Disney's trash bins. Mondays ruling spares Disney from having to pay royalties and damages that might have totaled hundreds of millions of dollars, according to Disney.

Company Headline News

Cinar Becomes The Cookie Jar Ent.

With the acquisition of the company by former Nelvana execs Michael Hirsh and Toper Taylor complete, Cinar's name has been officially changed to Cookie Jar Ent. The once publicly traded company will now be a private entity. The principals include Hirsh and Taylor along with Steve and Patty Carson, TD Capital Canadian Private Equity Partners and Ontario Municipal Employees Retirement System (OMERS). The overall Cookie Jar Group also includes leading education companies Carson-Dellosa and HighReach Learning.

Headline News

Comcast To Purchase TechTV

Comcast Corp. announced that it has signed an agreement with Vulcan Programming Inc. to acquire TechTV Inc. Comcast plans to merge TechTV with G4, the Comcast-owned television network devoted to videogames and the gamer lifestyle. The deal increases Comcasts content portfolio and expands G4s distribution. The combined channel will be available to 44 million cable and satellite customers nationwide.

Headline News

Mike Young Prods. Forms Taffy Biz Unit

Announced at MIP-TV, independent animation studio Mike Young Prods (MYP) announced the formation of Taffy Ent., the new business unit dedicated to the rights management and worldwide distribution of family and childrens entertainment. Mike and Liz Young and Bill Schultz created Taffy to own and represent its library as well as to actively seek to acquire rights to other animation properties.

Entertainment Headline News

Entertainment Rights Acquires Filmation

Entertainment Rights has announced that it has purchased the complete rights to the Filmation library from Hallmark Entertainment in a $20 million deal. The library includes more than 1,700 hours of programming, featuring HE-MAN AND MASTERS OF THE UNIVERSE, SHE-RA, GHOSTBUSTERS, MY FAVOURITE MARTIAN, THE LONE RANGER, THE ARCHIES, FAT ALBERT, SABRINA and BRAVESTAR.

Focus Headline News

Focus Features Opens Specialty Label Rogue Pictures

Focus Features has opened a new action, thriller and urban dedicated label called Rogue Pictures, reported VARIETY. Supervision of the new unit will be headed by Focus' management team. Focus president of distribution Jack Foley will be the go-to man on Rogue releases. The first film to be released by the new arm with the forthcoming CHILD'S PLAY sequel, THE SEED OF CHUCKY, directed and written by series creator Don Mancini.

Studio Headline News

Triplets' Sylvain Chomet Opens Studio, Signs Deal With Dimension

THE TRIPLETS OF BELLEVILLE director Sylvain Chomet has opened an animation company called Studio Django in Edinburgh, Scotland. The new firm has already signed on for two productions. Chomet's wife Sally will serve as a producer for the company.

Square Headline News

Square Enix Acquires UIEvolution

Square Enix Co. Ltd. has acquired UIEvolution, Inc., a leading wireless software company, through its subsidiary, Square Enix U.S.A. Inc. This move is in hopes to capitalize on the growing mobile market in the U.S. Square Enix invested approximately $4 million in UIEvolution in December 2003. UIEvolution will function as the research and development center for core technologies that will help Square Enix produce a new type of network-based entertainment.

Digital Headline News

Weta Digital To Rent Out Server Space

With the epic undertaking of the LORD OF THE RINGS trilogy behind them, Weta Digital is considering renting out several racks of IBM blade servers in partnership with Telecom, reports Telecom Advanced Solutions started hosting the hardware last winter after Weta ran out of room in the Miramar facility. The new servers were linked to Weta's main site using a 10 gigabit fibre-optic connection.

Animation Headline News

Disney Orlando Animators Start Project Firefly

A core group of Disney Orlando character animators have announced the formation of Project Firefly Animation Studios. The new 2D and 3D studio will be based out of offices on the Universal Studios Florida back lot. Project Firefly has a slate of original projects in development for theatrical and video release.

Creative Headline News

Foothill and phuuz Strike Strategic Alliance

Santa Barbara-based production/distribution company Foothill Entertainment Inc. has formed a broad-based strategic alliance with recently established creative content house phuuz entertainment inc. to extend the business and creative reach of both organizations globally.

Production Headline News

IDT Gets in 3D Game, Again, Buys DKP

DKP Effects Inc., a 3D animation and special effects production company, based in Toronto, is the latest acquisition for IDT Ent., joining Canadian 3D producer Mainframe in the rapidly-growing holdings of the subsidiary of IDT Corp., a multinational carrier, telephone and technology company.

Headline News

Yoram Gross Teams Coote/Hayes Prods In New Firm

Australian animation veteran Yoram Gross has teamed with L.A.-based production firm Coote/Hayes Prods. to form YG USA, reported VARIETY. The new firm has already inked a domestic television and homevideo deal with Miramax on the series FLIPPER & LOPAKA, which is set for release in July. Greg Coote and Jeff Hayes head Coote/Hayes Prods., whose executive Edward Olson will serve as president of YG USA. Olson will oversee the development of new projects and properties as well as promoting Gross' animation library in North and Latin America.

Headline News

French Finding Nemo Suit Thrown Out of Court

A Parisian judge, on March 12, 2004, threw out a claim made by French children's author Franck Le Calvez that would stop the sale of FINDING NEMO merchandise in France, reported the DOW JONES BUSINESS JOURNAL. Le Calvez claims that NEMO is a copyright infringement of his 2002 book PIERROT LE POISSON CLOWN, which features a lead clown fish character who looks strikingly like Nemo.

Headline News

Naughty Toons Slapped with $500,000 Fines?

Broadcasters may have to rethink how adult their adult animation gets now that the U.S. House of Representatives overwhelmingly passed legislation increasing the maximum fine for radio and TV indecency from $11,000 to $500,000, reports the ASSOCIATED PRESS.

The vote was 391-22. A U.S. Senate bill is under discussion. The bill raises the maximum fine for a broadcast license-holder from $27,500 to $500,000 and the fine for a performer from $11,000 to $500,000.