Cinar Corp. has signed a deal with Bahamas-based Globe-X Management to recover US$50.9 million that was invested in offshore accounts without board approval. The investments were originally to be paid by November of this year, however the new agreement has Globe-X paying out weekly installments between now and August 17, 2001. As part of the new arrangement, Cinar has dropped all legal charges made against Globe-X.

News and entertainment destination site, iFuse.com, is about to go under unless it can find a buyer immediately. The company has run out of money and told its 30 staff members on Tuesday, October 24 that they no longer would be paid. The Marina del Ray, California-based company's CEO Rich Battista and president and COO Michael Dowling are in talks with several Websites to buy the sinking Netcaster. Battista told the DAILY VARIETY that, "Our doors are still open.

Over the past year, Sweden has been urging the European Union to ban TV advertising aimed toward children under 12, however policymakers have reassured the advertising and children's programming industry that they are moving away from the notion. Currently in Sweden, ads targeted to kids are banned, because the government is worried that children could unnecessarily influence their parents' shopping habits. In January, Sweden hopes to win favor for their plans when they take over the six-month rotating presidency of the EU.

In an attempt to strengthen its executive ranks, Sony Pictures Entertainment (SPE) has retooled, leaving a worldwide marketing executive seemingly without a job. Chief of worldwide distribution, Jeff Blake has assumed the duties of Bob Levin, who had held the post of marketing exec. Levin, who was in New York yesterday for the CHARLIE'S ANGELS premiere, was not available for comment and no word was announced on his definite future with the company or otherwise. According to insiders, there were tensions between Blake and Levin, who has 1 1/2 years left on his contract.

AWN's stock ticker features the most prominent publicly traded companies in the world of animation. AWN, Inc. makes available certain financial information from third party information providers. AWN does not give advice in any such fields, and has not reviewed, and in no way endorses the validity of such data. This information is provided solely as a means to keep our readers informed of the market performance and trends of certain companies. AWN strongly suggests that one seek advice from a competent professional regarding any investment or financial issues.

Chennai, India-based Pentamedia Graphics, Ltd., formerly known as Pentafour Software and Exports, Ltd., and Film Roman, Inc. have announced a letter of intent pursuant to which Pentamedia will purchase a 51% stake in Film Roman. The deal was a US$15 million cash deal, which is aimed to close by January after regulatory and board approvals. In regards to the deal, Film Roman CEO and president John Hyde told AWN, "I think it allows us to execute our very specific five-year plan.

Italian animation studio Mondo TV released second-quarter revenue reports, which were up 250% to 6.7 billion lire (US$2.94 million). This report is the first since going public on the Milan stock exchange in June. In the quarter, Mondo TV's gross operating margin inflated 484% to 5.3 billion lire ($2.32 million). The big gains are attributed to the firm's increasing presence in Asia and its new co-production deal with Seoul-based Hahn Shin Corporation. Mondo TV is the owner of Italy's largest library of domestic and imported television cartoons.

ASIFA, the only internationally sanctioned organization for animation, will open a chapter in India. This new chapter will be located in the city of Trivandrum within the Indian state of Kerala, home of Toonz Animation India. The first meeting of ASIFA India will occur during The 2nd Annual Week With The Masters Animation Celebration, from October 30 - November 3, 2000. Bill Dennis, president and CEO of Toonz Animation India, will head the new chapter. Dennis has worked on animated classics such as THE LION KING, BEAUTY AND THE BEAST, ALADDIN and THE LITTLE MERMAID.

AWN's stock ticker features the most prominent publicly traded companies in the world of animation. AWN, Inc. makes available certain financial information from third party information providers. AWN does not give advice in any such fields, and has not reviewed, and in no way endorses the validity of such data. This information is provided solely as a means to keep our readers informed of the market performance and trends of certain companies. AWN strongly suggests that one seek advice from a competent professional regarding any investment or financial issues.

On Monday, October 16, 2000, Z.com, an Internet comedy content site, laid off 50 workers -- half of its staff. However, the Webcaster has secured additional financing to keep it operating until at least next spring. The company's major backers include Internet incubator Idealab, Basic Entertainment, 3 Arts Entertainment, producer Jerry Bruckheimer and Maverick Records partner Guy Oseary. "It's a tough time," Z.com CEO Joe DiNunzio told THE DAILY VARIETY. "Today's a very challenging day to have to let some really talented people go, but it's in the best interest of the company.

Phil Roman Entertainment, Inc. (PRE) has entered into a three-year, non-exclusive strategic alliance with the C-3D Television Network and the 3D.com Virtual Reality Portal Website, divisions of Chequemate International. The new agreement follows on the heels of PRE's president, Phil Roman's appointment to C-3D's advisory board. The partnership calls for both companies to jointly seek, develop, produce, promote, market and distribute animation and live-action programming for the C-3D Television Network and the 3D.com Virtual Reality Portal Website.

Blur Studio, a leading animation and visual effects production studio, has completed a major expansion, which added a state-of-the-art motion capture production studio to their facilities. In addition, Blur has gained a digital edit bay and a clean room for networking and digital storage hardware. The expansion comes as Blur Studio is embarking on the production of a 3D ride film for Paramount Studios and Stan Lee Media, entitled STAN LEE'S 7TH PORTAL 3D SIMULATION EXPERIENCE. "Blur is evolving and evolving quickly," said Tim Miller, the company's president.

On Monday, October 9, 2000, Eidos Plc., the U.K. video game maker, declined a potential takeover after it decided that the terms and price didn't offer a good value to its shareholders. Eidos wouldn’t release the names of the bidders, which analysts had rumored were either Infogrames SA, Microsoft Corp. or Electronic Arts. Upon the news, the company’s shares fell 11% on the London stock exchange to 261 pence and dropped 14% on the Nasdaq stock exchange to US$3.88.

AWN's stock ticker features the most prominent publicly traded companies in the world of animation. AWN, Inc. makes available certain financial information from third party information providers. AWN does not give advice in any such fields, and has not reviewed, and in no way endorses the validity of such data. This information is provided solely as a means to keep our readers informed of the market performance and trends of certain companies. AWN strongly suggests that one seek advice from a competent professional regarding any investment or financial issues.

On Friday, October 6, 2000, Cinar Corp. released a letter by company president and CEO Barrie Usher to its investors chronicling the reasons behind their delayed reporting of financial statements dating as far back as 1997. Currently, the Montreal-based production firm is under investigation for allegedly using false Canadian names on scripts, written by Americans, to obtain lucrative Canadian tax credits.

At MIPCOM, Cosgrove Hall Films has christened its new media division, Cosgrove Hall Digital (CHD) with the launch of its new Website: www.chd.uk.com. CHD will be run by managing director Iain Pelling and day-to-day operations will be overseen by Jon Rashid. The new division will create digital content for Websites, broadcast transmissions and CD-Roms. Currently, CHD is working on a pre-school series entitled WILD AND WONDERFUL, and a children’s series for ITEL entitled ALBIE.

German animation production house and rights buyer, TV Loonland AG has acquired the television production and distribution activities of Sony Wonder, the children’s production arm of Sony Music Entertainment. The deal was worth US$20.5 million in cash and stocks. As part of the deal, TV Loonland also obtains animation studio Sunbow Entertainment, which Sony Wonder bought in 1998. Sony will retain North American home video rights and international audio rights to their catalog of programming, which includes CLIFFORD and GENERATION O!

AWN's stock ticker features the most prominent publicly traded companies in the world of animation. AWN, Inc. makes available certain financial information from third party information providers. AWN does not give advice in any such fields, and has not reviewed, and in no way endorses the validity of such data. This information is provided solely as a means to keep our readers informed of the market performance and trends of certain companies. AWN strongly suggests that one seek advice from a competent professional regarding any investment or financial issues.

MIPCOM, the International Film and Programme Market for TV, Video, Cable and Satellite, hits Cannes, France on October 2 – 6, 2000. MIPCOM facilitates programme sales, deals, new contacts and joint ventures on a global basis. MIPCOM includes a five-day TV industry tradeshow, including a conference progamme on Television in the New Economy called MIPCOM: The International Trading Floor. MIPCOM brings together producers, distributors, broadcasters, Webcasters, worldwide cable and satellite operators, buyers, co-producers and investors from around the globe.

Due to microchip shortages, Sony has decided to cut its October 26, 2000 U.S. shipment of PlayStation 2 next generation gaming consoles by half. However, Sony states that this delivery change will not affect the projected amount of units in North America by the holiday season. 500,000 consoles will ship to 20,000 stores in North America then Sony will roll out 100,000 units each week thereafter. "We will be able to supply a flow of products, instead of a huge initial spike," said Kaz Hirai, COO of Sony.