Cinemax Pictures & Production Co., Intl., Inc. has signed a letter of intent for the purchase of Waggaworld Ent. International Inc., owner of the animated series WAGGAWORLD and the development, storyline, hardware and software technology associated with the project. The terms of the deal, which may include cash, shares, exchange of shares or a combination thereof. are still to be determined,
The multi-platform WAGGAWORLD, which targets the pre-tween and tween markets, will be produced in HD. A story bible has been completed, with an initial goal of developing 13 episodes for delivery in fall, 2008.
"The cost-effective animation style and completed technological aspects of the project will make this an interesting addition to Cinemax Pictures," said CEO Constantine Papadopoulos. "The creators spent a considerable amount of time, money and energy developing the characters, storylines, animation and the interactive media designs behind the multi-platform placement potentials of Waggaworld. In the deal, Cinemax Pictures will acquire an equal share of all rights, trademarks and copyrights. Cinemax will also control all the broadcast marketing, production, the animation software, the database hardware, and the rights to produce episodes. They will also share equally in the developed online game and video game and the ancillary marketing rights for the series, online and video games revenue and the character licensing. Other applications, including potential broadcast, eventual release on DVDs and the video game will also be available in 3-D animation."
