Category: Business

Century Communications, one of India's largest independently owned media companies and owner of leading Indian vfx company Pixion, is making its first move into the global arena with the acquisition of U.K. based, vfx house Men-from-Mars.

Insomniac Games is opening a North Carolina-based development studio.

The new studio, which will be located in the Raleigh-Durham area, marks the first expansion in Insomniac's 14-year history. The North Carolina studio will also be known as Insomniac Games, and will focus both on developing current and new intellectual properties. While the new studio will operate largely autonomously from Insomniac's Burbank group, it will receive administrative support along with shared tools and technology.

SEGA of America has extended its relationship with Epic Games by signing a new Unreal Engine 3 licensing deal for an unannounced, cross-platform game.

SEGA entered into its original licensing agreement to develop multiple titles with Unreal Engine 3 in May 2007. Details of the project in development will be released at a later date.

Your Family Ent. has bought a three percent stake in German-based TV-Loonland.

Your Family issued a press release saying, "We are of the opinion, that after its restructuring TV-Loonland is an interesting investment. Content in the children and youth segment like the programmes of TV-Loonland are in Germany at the moment undervalued."

Richard Marlis, the former exec VP of Hollywood-based ka-chew/Klasky-Csupo, and Carmen Italia, an advertising and marketing exec and founder of Italia Partners, announced the opening of Wild Canary Media today, based in Burbank, California, USA.

Joining Marlis and Italia at Wild Canary are executive producer of animation Liz Seidman, directors Paul DeMeyer and Gary Johns and producer Chris Hutchison. Heading up the CG animation team are CGI supervisor Bryan Blevins and lead TD artist James Parks. Spearheading the broadcast entertainment business is Mark Pinsker.

Hello Kitty has been an international "ambassador of cute" for years, and can now claim "official government envoy" to that list, according to the ASSOCIATED PRESS.

Japan's tourism ministry on Monday named Hello Kitty as its choice to represent the country in China and Hong Kong, two places where she is hugely popular among kids and young women. Officials hope to tap that fan base to lead a larger flow of tourists to Japan and get the country closer to its goal of 10 million overseas visitors a year, the "Visit Japan" campaign.

TV-Loonland has successfully concluded the sale process of its shareholding in Metrodome Group, its U.K. subsidiary, making them debt-free for the first time in seven years. Their CEO, Simon Flamank, also announced he will be stepping down as chairman of the company after the sale is complete.

KidsCo, the joint venture channel owned by leading media companies NBC Universal, DIC Ent. and Corus Ent., has launched in Hong Kong following the securing of a major broadcast agreement with Hong Kong's PCCW Now TV.

TV-Loonland has entered into an agreement with Hasbro to sell all its rights in the "Hasbro Classics Library." Under the agreement, Hasbro. will pay $7 million to TV-Loonland.

The "Hasbro Classics Library" includes renowned titles such as TRANSFORMERS, MY LITTLE PONY and G.I. JOE. These programs were acquired by the TV-Loonland from Sony BMG in December 2000.

IMAX Corporation has entered into two significant financing transactions, one with Wachovia Capital Finance Corporation and one with the Douglas family, IMAX's largest shareholder.

The deal with Wachovia will be to increase future availability and modify other terms under the company's existing credit facility

The deal with the Douglas family is for the sale of approximately 2.73 million common shares in a private placement at an aggregate purchase price of $18 million.