Major Japanese trading houses, which deal in commodities ranging from plants to noodles, are now ramping up their investments in Japanese animation for export, however concerns about lax copyright rules in some Asian markets still persists, reports YAHOO! ASIA. Trading firms see the profitability of cartoon character goods and intend to grow the business by leveraging ties with toymakers.

The Walt Disney Studios and Miramax co-chairmen Bob and Harvey Weinstein have reached a mutual agreement concluding the Weinsteins current deal with The Walt Disney Co.

Santa Monica, California-based Entity FX has just announced its new commercial representation, Connie Mellors and Ellen Dempsey of Connie Mellors & Co.

“We want to work on commercials that push the creative envelope,” said Kymber Lim, head of production for Entity FX. “Someone of Connie’s experience and reputation will help us to attract those kinds of projects.”

DreamWorks Animation SKG Inc. announced it has filed a registration statement with the Securities and Exchange Commission in preparation for a secondary offering of $500 million of shares of its Class A common stock. All shares will be offered to the public by current stockholders of DreamWorks Animation SKG Inc. and therefore the company will not be issuing additional shares or receiving any proceeds from the offering.

Time Warner sister companies HBO and New Line Cinema have acquired independent distributor Newmarket Films and hired its chief, Bob Berney, to run a new venture, reports REUTERS. Newmarket is best know for taking the risk in releasing Mel Gibson’s THE PASSION OF THE CHRIST, which earned more than $350 million at domestic box offices via grass-roots marketing aimed at religious groups. Other big releases for Newmarket included WHALE RIDER and MONSTER.

In order to unify its overall branding strategy, Autodesk has renamed Discreet to Autodesk Media and Ent. The division best known for 3ds max and other digital imaging software will continue to service the film, video, gaming and related media and entertainment markets.

This renaming ensures that the creative toolset from Autodesk Media and Ent. will stay on the leading edge of product innovation. Additionally, Autodesk Consulting is extending its organization by adding a dedicated media and entertainment division.

Pixar Animation Studios announced today that its board of directors has approved a two-for-one split of the company's common stock and the number of outstanding shares will jump from 100 million to 200 million.

At the close of trading on April 4, 2005, shareholders of record will receive one additional share of Pixar for every outstanding share held on the record date. Trading will begin on a split-adjusted basis on April 19.

On March 21, 2005, HIT Entertainment Plc. agreed, to take a £489.4 million ($934 million) cash takeover offer from U.K. venture capitalists Apax Partners.

HIT, the kids entertainment company behind such characters at BOB THE BUILDER, THOMAS THE TANK ENGINE and BARNEY THEPURPLE DINOSAUR, made the announcement as it revealed disappointing financial results for the six months ending Jan. 31.

Avid Technology Inc. has entered into a definitive agreement to acquire Pinnacle Systems Inc. in a cash and stock transaction of about $462 million. The combination will provide Avid with immediate presence in consumer video and expand its professional broadcast offerings. The acquisition is subject to satisfying a number of closing conditions, including shareholder and regulatory approvals, and is expected to close in the second or third quarter of 2005.

DreamWorks Animation SKG Inc. announced financial results for its fourth quarter and full year ended December 31, 2004.