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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.

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.

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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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.

On Friday, February 2, 2001, scandal plagued Cinar Corp. released their long-awaited reworked financial statements for the past four years. For the year ended November 30, 1998, the company lowered net earnings from CA$21.8 million (US$14.6 million) to $15.7 million ($10.5 million) and for the year ended November 30, 1997, $12.9 million ($8.6 million) to $6.6 million ($4.4 million). Retained earnings for the year ended November 30, 1996 were reduced from $22.4 million ($15 million) to $16.3 million ($10.9 million).

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!

DreamWorks is backing out of GameWorks, a string of location-based entertainment centers, which it helped found five years ago. DreamWorks' spokeswoman Vivian Mayer said, "Our commitment was a creative input. We fulfilled our commitment." Steven Spielberg was one of the original initiators of the company and oversaw the design of many of the coin-operated arcade versions of his films, like JURASSIC PARK. GameWorks has reported that same store sales are up an average of 10% in the past six months and overall revenue is up US$10 million from last year.

Dark Horse Entertainment and Slovenia-based Strip Art Features (SAF) have teamed up to create a new company, Venture, which will publish graphic novels and comic books with the intent to launch them onto film and television. The first graphic novel to be produced by the firm will be BLOOD TIES by Belgian artist Hermann and writer Yves H. The story is described as a Faustian tale that journeys into a rotten big city with a junior detective from the suburbs named Sam Leighton.