PorchLight Entertainment has completed negotiations with Penguin Putnam, Inc. and Modern Publishing to license its animated preschool property JAY JAY THE JET PLANE. Under the agreement, Penguin will develop and produce JAY JAY THE JET PLANE story books for the preschooler as well as a variety of novelty books. With a commitment to produce a minimum of eight books throughout 2002, Penguin will adapt story lines from Jay Jay's worldly adventures and include both a Christmas and a spring-themed adaptation. It is anticipated that a minimum of 12 books will be released by the two publishers throughout 2002.