Stan Lee Media, Inc. has announced that it is filing for Chapter 11 bankruptcy protection. In a statement, CEO and president Kenneth Williams said, "After looking at all of the available options, management and the board of directors concluded that the best way to maximize the company's value is to seek to sell the company in a Chapter 11 proceeding. As previously announced, the company has been reviewing strategic alternatives for the company since mid-December, and in conjunction with this review has had discussions with a number of potential buyers and strategic partners.

The U.S. federal appeals court has upheld a 1998 ruling, which extended the length of copyrighted material another two decades. In a 2-1 ruling, the three judge panel ruled that Congress does have the right to extend the time of a copyright. The arguments against the ruling were brought forth by a group of individuals and companies dealing with public domain works stating that the extension infringed on their First Amendment rights.

Twelve video game companies have filed a joint suit against four individuals accusing them of offering unauthorized versions of such games as PAC-MAN and DONKEY KONG on the Web. The suit seeks to shut down sites operated by Dasheill Ponce De Leon of Houston, John Sterling of Beaumont, Texas, Byron Beck of Monrovia, California and Kuei Lin Lo of Amherst, Massachusetts. The complaint also seeks monetary damages of US$150,000 for each copyright infringement.

On February 13, 2001, the European Union organized in Stockholm for an expert seminar on Children and Young People in the New Media Landscape. One of the main topics in the discussions was Sweden's European initiative for banning television commercials aimed at children. The European Union has a rotating presidency system, where every member country controls the administration for a half-year term. As current leader, Sweden has placed the matter of TV ads on the top of the EU agenda for this term.

Cinar Corporation has entered into an agreement with its banks to extend its credit line until October 15, 2001. Of US$24 million previously outstanding, half of the amount is still with standing. In certain circumstances prepayments will be required prior to October 2001. The plagued children's producer also announced that it would release its unaudited 2000 financial statements by March 31, 2001. "Cinar continues to have a strong balance sheet.

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Add one more name to the long list of the dotcom dearly departed. Z.com has announced that on Friday, February 16, 2001 they will be closing their doors for good. This move comes only a week after Icebox.com closed down – an entertainment site that was in talks to merge with Z.com. The entertainment Website had high-profile backers such as Basic Entertainment, 3 Arts Entertainment, IdeaLab!, producer Jerry Bruckheimer and Maverick Records partner Guy Oseary. The demise of the company is a result of declining ad revenue and a weak syndication market.

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.

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.