Category: Business

Burbank, California-based The Walt Disney Co. has reported a drop infourth-quarter profits. The entertainment company, which owns a filmstudio, a TV network (ABC) and runs theme parks around the world, said netincome fell to $85 million, or 4 cents a share, from $296 million, or 14cents a share, in 1998. Disney's earnings for its fourth quarter whichended September 30 included charges for acquiring Internet search serviceInfoseek Corp. Excluding the charges, profits fell 37 percent to $212

New York City-based Oxygen Media,Geraldine Laybourne's company founded to provide content for women, hasreached an agreement with Insight Communications to distribute the Oxygencable network. Insight is the 8th largest cable operator in the UnitedStates, serving more than one million customers in six states. Under theterms of the agreement, Insight Communications will launch Oxygen acrossthe majority of its systems. The new Oxygen cable network, which launcheson O2/O2/2000, will be integrated with Oxygen's existing online properties

Seven European animation companies have joined to form a company called theEuropean Animation Group, although its name is likely to change. The grouphopes to produce a minimum of one animated feature or series per year,beginning in 2001 with its first feature, the $15 million ELFQUEST, set togo into production in January 2000. The announcement was made at MIPCOMheld October 4 - 8 in Cannes, France. European Animation Group bringstogether seven companies. From France, the partners are

Studio B Productions has moved to a custom designed studio at 190 AlexanderStreet in Vancouver, British Columbia. The three-floor, 27,000 sq. ft.facility is home to Studio B's animation studio and production house aswell as Mercury Filmworks, a fully equipped digital animation facility, andDick and Roger's, a fully equipped sound studio which means that thefacility now has the ability to produce an animated show or series in itsentirety from script to post-production. The move to larger, custom

Nickelodeon is opening a new animation studio in New York City at 1515 Broadway which will be knownas Nickelodeon Animation Studio New York (NASNY). The digital animationstudio and development laboratory will open in October, although the movehas already taken place. Among the series that will be produced at the newstudio will be BLUE'S CLUES, LITTLE BILL, and GARBAGE BOY, a new weeklysegment for KABLAM!. The studio will house 140 employees including 70animators/digital designers. All phases of production other than

On Monday, October 4 at 4 pm Jean-Marie Messier, president of Vivendi, aFrench multimedia, communications and power company, will deliver thekeynote address for the special three day forum on convergence, TV Meetsthe Internet @ MIPCOM. The address will be entitled "21st CenturyTelevision: Visions for Next Generation Broadcasting.". . . Rome,Italy-based RAI TRADE will offer BROTHER JACOB, an animated edutainmentseries for children about a storytelling monk, as well as GONE WITH THE

The tradeshow for television programming producers and distributors takesplace October 4-8 in Cannes, France. Basque, Spain-based animation studioIRUSOIN is nearing completion of KARRAMARRO (CRAB ISLAND), a made fortelevision animated feature with rights available for worldwide TV andvideo release. The original story is about a group of kind, song-lovingpirates, focused on luckless Dimitri, a pirate who cannot sing, and aparrot who is the only clue to tracking down a fabulous pirate's treasure.

San Jose, California-based SGI has announced that Robert Bishop has beennamed new chairman and chief executive officer effective immediately. Hesucceeds Richard Belluzzo, who resigned last week to accept at position aMicrosoft Online. Bishop joined SGI in 1986 and was responsible forbuilding its international division. He joined SGI's board of directors in1993 and continued to be an active member of the management team through1995. Prior to joining SGI he had similar responsibilities at Apollo

(Colossal) Pictures will ceaseoperations on August 31, 1999 after 23 years in business. According to theSan Francisco-based production and design studio, the decision was made inorder to liquidate property and honor outstanding debts. (Colossal) hasfiled for Chapter 11 protection before on May 30, 1996, and emerged frombankruptcy on December 1, 1997. It enjoyed a successful year in 1998,employing a lean work force. However, the beginning of this year saw adownturn in revenue. Financially weakened by the bankruptcy, as (Colossal)

San Jose, California-based Silicon Graphics Inc. has announced that it willcut up to 3,000 jobs and spin off its Cray supercomputer division.According to SGI, the cuts and reorganization will help it focus on sellingsoftware and computers related to the Internet. SGI bought Cray ResearchInc. in 1996 for $740 million. Since its acquisition by SGI, Cray'ssupercomputers have competed with SGI's own powerful systems in a smallmarket. Earlier this year SGI reorganized and divided Cray off into a