North Carolina-based SouthPeak Interactive, a former SAS subsidiary that produced computer games, has spawned Alternate Route Studios, a new F/X house. Originally created to produce proprietary technology that promoted "feature film quality" gaming, SouthPeak transformed into Alternate Route after its core technology was sold off last year. Executive director Susan Ellis said, "We are aiming our sights on national spots and features. As part of a proof of concept, we pitched to produce SAS' first national campaign.

London-based HIT Entertainment hopes that the big purple dinosaur named Barney can help pave roads into the States for the company's content. HIT has announced that it will acquire Allen, Texas-based Lyrick Corp., the creators of Barney, for US$275 million. As part of the deal, Lyrick will receive $165 million in new HIT stock and $110 million in cash. HIT hopes that Barney's wide success will help bring attention to HIT animated series such as KIPPER THE DOG, ANGELINA BALLERINA and BOB THE BUILDER, which is already an overwhelming success in the U.K, and made its U.S.

Visual effects supervisor Dennis Berardi and Toronto-based TOPIX/Mad Dog's Chris Wallace and Sylvain Taillon have launched Mr. X, Inc., a studio providing computer generated visual effects for feature entertainment. The new partnership will combine TOPIX's artists with Berardi, former visual effects supervisor of Toybox, supplying the ideas and directing. Berardi's F/X supervising credits include THE CELL, FIGHT CLUB, EXISTENZ, KEEPING THE FAITH, SUPERSTAR, THOMAS AND THE MAGIC RAILROAD, JASON X and BRIDE OF CHUCKY.

EM.TV's CEO Thomas Haffa has announced that he will invest DM30 million (US$14 million) of his own money into the production house in an attempt to win back shareholder confidence said THE WALL STREET JOURNAL. As a result of the move on Wednesday shares in EM.TV rose 6% to 8.38 euros ($7.80). According to insiders EM.TV's bankers ordered the money as a way for the company to hold an estimated $750 million in debt at bay. In the past year, EM.TV shares have plummeted more than 90% directly attributed to extreme profit warnings and reports of fiscal mismanagement.

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Kaydara Inc., a worldwide leader in real-time 3D/2D production systems for film, television, games and broadcasting, has announced that it has received an additional US$5 million in funding. The investment will support future product development and marketing strategies. Investissement Desjardins, a company known for its interest in fledgling technology companies, led this first round of investment.

Internal tensions have risen at embattled German media firm EM.TV & Merchandising over whether or not to accept German mega-firm Kirch Group's proposed bail out. CEO Thomas Haffa, whose family owns 50% of EM.TV shares, has been reported to favor the Kirch deal. Rumors have suggested that he even asked supervisory board chairman, Nickolaus Becker, to step down from his post. Becker along with other members of the board favor a deal with U.S.

Realviz recently announced that it has completed a third round of financing worth 10 million euros (US$9.39 million). The money will help with the future development of the company and their products. This new fundraising will enable Realviz to finance their international expansion programme in the U.S.A., Europe and Asia, as well as to finance a new Internet solutions business unit.

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Internet entertainment destination iFilm has secured US$10 million more in financing. The new funds will keep the Website in operation well into the next year. New investors in the dotcom were Yahoo! and cable executives Marc Nathanson and Leo Hindery. Axiom Ventures, Eastman Kodak Co., Sony Pictures Entertainment and Vulcan Ventures were the returning investors. Officials at both iFilm and Yahoo! declined to give specifics about how the investment will change the two Net firms' relationship. However, negotiations are in full swing to have iFilm utilize Yahoo!