Pukka recently launched Pukka Group, a company that will be divided into three subsidiary companies: Pukka Films, Pukka Post and Pukka Web. The group's headquarters will be located in the new Portland Mews building (UK), which has just undergone a £1 million (US$1.47 million) refurbishment. Containing the latest in post-production equipment, Pukka will deliver integrated digital media solutions to its clients - producing, editing, packaging and distributing video, film or new media product in the corporate, broadcast and feature markets.

In another move to maximize its remaining cash flow, Icebox.com has laid off 11 employees, over 25% of its staff. Currently, Icebox is in the middle of a US$10 million financing negotiation with some of its initial backers. CEO and co-founder Steve Stanford said, "It's going; it's just not going as quickly as we would have liked." In November, Icebox cut 50 staffers in their first attempt to cool down their capital burn rate [AWN 11/29/00]. Laid-off staff members were given their last paycheck, their computer and their Aeron ergonomic chair.

The actresses behind the Powerpuff Girls are in a real battle of their own and it's not with Mojo Jo Jo – but Cartoon Network. The AOL Time Warner-owned animation network has put out a call for sound a-likes to imitate the Powerpuff Girls for the upcoming feature film. Apparently, Tara Strong (Bubbles), Catherine Cavadini (Blossom) and E.G. Daily (Buttercup) are in heated discussions over the financial terms they were offered.

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Z.com is in need of an Internet savior. In October, Z.com laid off 50 employees, which was most of its staff. The Web entertainment site is looking around town for a possible merger partner. The company's major backers include Internet incubator Idealab, Basic Entertainment, 3 Arts Entertainment, producer Jerry Bruckheimer and Maverick Records partner Guy Oseary. Z.com CEO Joe DiNunzio told THE HOLLYWOOD REPORTER that, "We're exploring strategic alternatives that include mergers or bringing in new equity partners."

Entertaindom.com has become the first casualty of the AOL Time Warner merger. As part of overall company trimming, Entertaindom will fold up operations on February 1st. The content from the site will most likely be combined with series on the Warner Bros. Online site. How many employees will lose their jobs is yet to be known. However, insiders say that over the next few weeks there will be major cuts throughout Time Warner. Already 400 staffers have been cut from news division CNN. The completion of the merger has long loomed over Entertaindom.

Angry EM.TV shareholders are stating that the company should pay them DM35 million (US$16.8 million) in damages for financial mismanagement and deliberately misleading the investors. Shareholders, represented by lawyers Tilp & Kaelberer and Klaus Rotter, said they would sue EM.TV if the firm doesn't comply with their out-of-court settlement. The German children's production house has refused to discuss a settlement until an investigation by the Munich state prosecutor's office into the company's actions is completed.

EM.TV's CEO Thomas Haffa and deputy chairman Florian Haffa have admitted that they sold shares in the company without consulting the firm's financial advisory, WestLB. The sale may be a violation of German stock exchange rules. Thomas sold DM40 million (US$19.2 million) worth of EM.TV shares while Florian's amount was not released. Up until Tuesday, Thomas had insisted that he informed WestLB of the sales, but now says he only informed the bank of his intention of the sales and did not place the move in writing.

Macromedia Inc., creator of Flash software and parent to Shockwave.com, has announced that it will acquire Web content management company Allaire Corp. in a US$360 million cash and stock deal. Macromedia will exchange 0.2 shares of its stock plus $3 in cash for each share in Allaire. Macromedia CEO Rob Burgess will continue as CEO of the new combined firm, with Allaire's CTO Jeremy Allaire talking over the same role at Macromedia. The combined company will retain the Macromedia name.

Germany-based children's TV and licensing firm, BKN International, has acquired the operational assets of its former parent Los Angeles-based BKN Inc. BKNI will pay US$25.5 million over the next two years to gain the rights to BKN's fifth largest animation portfolio in the U.S. In addition, BKNI will pay $2.6 million in cash for BKN Inc.'s L.A. studio and its trademark. Therefore, BKN Inc. will only exist as a holding company with a 34% share in BKN International. In a separate deal, Sony Pictures Family Entertainment has purchased 3.8% of BKNI from BKN Inc.