North Hollywood, California-based Film Roman has reported second quarter losses of $266,215, or 3 cents a share, whichis an improvement over the losses for the second quarter of 1998 of$718,439, or 8 cents a share. Revenue for the first half of 1999 increasedby 58% to $27.5 million from last year's first half's $17.4 million. FilmRoman produces Fox's THE SIMPSONS and Warner Bros.' upcoming new series,MISSION HILL (previously known as THE DOWNTOWNERS). In recent months, FilmRoman has been making significant strides to enter the original content
San Jose, California-based Silicon Graphics Inc. has announced that it willcut up to 3,000 jobs and spin off its Cray supercomputer division.According to SGI, the cuts and reorganization will help it focus on sellingsoftware and computers related to the Internet. SGI bought Cray ResearchInc. in 1996 for $740 million. Since its acquisition by SGI, Cray'ssupercomputers have competed with SGI's own powerful systems in a smallmarket. Earlier this year SGI reorganized and divided Cray off into a
Newly launched Atlanta,Georgia-based Giant Studios is a performance animation studio. Theirproprietary Motion Reality? system utilizes the latest advancements inmicroprocessor technology and interfaces with the best animation software.A state-of-the-art motion capture studio is available with a 50' x 50' x24' open floor space. The system can capture and process multiple,subject-object interactions in real-time, as well as the intricate detailof hand and facial captures. The studio offers fully integrated
IMAX Corporation, owner of the large format film theater chain, hasannounced the closing of its strategic investment in Vancouver,Canada-based Mainframe Entertainment Inc., a producer of CGI animation.Under the terms of the agreement, IMAX invested CDN$8 million to acquire a19% equity stake in Mainframe and CDN$8 million to acquire convertiblesenior debt which, if converted, could bring IMAX's ownership up to 30% ofMainframe. Simultaneously, Mainframe announced that two leading Canadian
The Walt Disney Co. has reported its earnings for the third quarter, andthe nine months ended June 30, 1999. Net income for the fiscal thirdquarter ended in June fell to $367 million from last year's $415 million.The figure includes a pretax loss of $87 million from the November purchaseof a 43% interest in Internet search engine Infoseek Corp. Net income forthe nine month period ended June 30, 1999 fell to $1.215 billion from lastyear's $1.554 billion. "While we are not satisfied with our current
Cartoon Network is forming Cartoon Network Studios, an independentproduction facility to develop and produce original animated programmingfor the 24-hour, all-cartoon cable channel. The new, Los Angeles-basedfacility, due to begin operation by the end of the year, will give CartoonNetwork more control over series development, production, andadministration procedures. Among the series that the new studio willproduce are the currently airing THE POWERPUFF GIRLS, JOHNNY BRAVO, and
One year old Vancouver-based Mercury Filmworks, a fully equipped digitalanimation facility, has added 3D production to its list of in-houseservices. Currently, the 3D animation department at Mercury is working onthe television series D'MYNA LEAGUES, which has been created and developedby Vancouver-based animation house Studio B, and is slated to air onCanada's CTV/VTV in January 2000. With the addition of the new 3Ddepartment, Mercury is now unique in its ability to take not just a single
Walt Disney-owned companies Touchstone Television Productions and ABCTelevision Group are merging to form ABC Entertainment Television Group.According to ABC Television Group president Pat Fili-Krushel, "The goal inconsolidation is to produce creative results that result in more Disneyproduct on ABC and also allow us to achieve economies of scale." In otherwords, this consolidation will likely result in more Disney-producedtelevision programming appearing on ABC (Touchstone currently has only two
DreamWorks SKG, the Hollywood film studio co-founded in 1994 by Steven Spielberg, Jeffrey Katzenberg, and David Geffen, pulled out of a deal to build a new $250 million studio on July 1, 1999 because it could not reach a financing agreement. DreamWorks said it was unable to reach a financing deal that "makes good business sense." The closely held company also cited rising construction costs and tougher financing terms due to the rebound in the Los Angeles real estate market. Last year DreamWorks signed a deal with developer Playa Capital Co.
The Walt Disney Co. and former Disney head executive Jeffrey Katzenberg have settled a lawsuit for undisclosed terms, thus ending a months long public trial. Since it began in April, the trial has produced many headlines as Katzenberg sought to secure from Disney two percent of future income derived from all movies, TV shows and merchandise made while he was studio boss from 1984 to 1994. Katzenberg estimated his share of the bonus, which was part of his employment contract with Disney, to be anywhere between $382 million and $580 million in court filings.
MSH Entertainment Corp. has announced that it has entered into adevelopment, co-production and cross licensing agreement with Film Roman,Inc. Under the terms of the agreement, both companies will own a portion ofthe adjusted gross profits from the television broadcast, toy andmerchandising licensing rights of each other's selected animated andlive-action properties produced under the agreement. In addition, MSH willengage Film Roman for co-development funding and deficit financing of some
Chromacolour, an international leader in the manufacture and sale of traditional and digital animation materials, software and equipment, has just moved their manufacturing operation to a new 20,000 square foot facility in North East Calgary, Canada. This is also the location of their global headquarters and Sales and Distribution center. The company's European Sales and Distribution center has been recently relocated to a new facility in London, England as well.
As of July 1, 1999 Graham Ralph is relinquishing his stake in London-based Hibbert Ralph Animation, which will then be known officially as HRA. This will enable Ralph to invest actively in future films and TV series' through a new company, Silver Fox Films. He will also be acquiring the rights to Hibbert Ralph Entertainment's library.
Warner Bros. is combining its feature and TV animation divisions under one roof in Sherman Oaks, California, and TV Animation President Jean MacCurdy will take on the responsibilities of supervising the production of Warner's animated features. Lorenzo di Bonaventura, President of Worldwide Theatrical Production, will continue to supervising the creative side of animated feature production.
Geraldine Laybourne, Oxygen Media's Chairman and CEO, has announced thatOxygen Media has signed a carriage agreement with MediaOne, a domesticcable operator, to distribute Oxygen's cable network. The new Oxygennetwork, which is scheduled to launch on 02/02/2000, will be integratedwith Oxygen's existing online properties to create a "home base" for womenon cable and the Internet. Oxygen's carriage agreement with MediaOne willdeliver Oxygen to over 1 million subscribers at launch. Under the terms of
Computer Cafe has opened a full service animation studio in Santa Monica,California. The 1400 square foot site, in the heart of Santa Monica's mediadistrict, will be staffed by art director/digital artist Ron Honn, who isrelocating from the company's Santa Maria headquarters, and producerJonathan Stone, who joins the company from Saban Entertainment. Artistsfrom the Santa Maria facility will staff up the Santa Monica studio on aproject basis, and the company will also staff the new site with local
Rob Davies, a 1999 Emmy nominee for his work on STEVEN SPIELBERG PRESENTS:PINKY, ELMYRA AND THE BRAIN, has recently returned from Warner Bros. T.V.Animation in L.A. to his native British Columbia, Canada to start up a newanimation studio, Atomic Cartoons Inc. Joining Davies is former REN ANDSTIMPY animator and Universal Cartoons director Mauro Casalese, directorTrevor Bentley (Nickelodeon's CAT DOG, Nelvana's NED'S NEWT), and directorOlaf Miller (Sony's LITTLE WITCH). "Our main focus is to assist companies
Toonz Animation India Pvt. Ltd., a new animation production studio inIndia, will have a limited opening in August, with an official openingfollowing November 1-5, 1999. Toonz will offer a full-range of productionservices for episodic television series and commercials. Toonz will also bededicated to developing original pilot shows based on Indian folklore andmythology. "India has a rich treasury of folklore which will form the basisfor many of our pilot shows," states Bill Dennis, President and CEO. In its
Don Spielvogel, President of VirtualMagic Animation, Inc., and JeffreyHarrison, Chairman/CEO of ImagineAsia Studio, announce the formation ofVirtualMagic ASIA, a new digital ink, paint and compositing service in thePhilippines that will operate as a subsidiary of VirtualMagic Animation,Inc. headquartered in North Hollywood, California. VirtualMagic ASIA is acorporate venture between two animation and digital service studios,VirtualMagic Animation, Inc. and ImagineAsia Studio, of Manila.
Retired Los Angeles County Superior Court judge Paul Breckenridge has ruledthat Jeffrey Katzenberg, the former head of Disney's film unit, did notforfeit a lucrative bonus when he left the company in 1994 and is entitledto interest on any money he is owed. Judge Paul Breckenridge issued hisdecision Wednesday and will next hear testimony to determine exactly howmuch money Disney should pay. Katzenberg, who left Disney in 1994 after hewas denied a promotion, is suing Disney for what he says is at least $250
Iwerks Entertainment Inc. continued its improved operating performance infiscal 1999 by reporting revenues of $10,423,000 for the third quarterended March 31, 1999, representing a 133 percent improvement over the sameperiod last year when it reported revenues of $4,483,000. The third-quarternet loss of $389,000, or 3 cents per share, compared favorably with theprior year's net loss of $5,077,000, or 42 cents per share. EBITDA[earnings before interest, taxes, depreciation, depletion, amortization and
Macromedia (NASDAQ:MACR) has announced a 47% increase in revenues for thefourth quarter ended March 31, 1999. Revenues for the fourth quarter were$44,097,000 as compared with $30,012,000 in the same period a year ago.Gross profit increased 44% to $39,867,000 as compared with $27,653,000 inthe fourth quarter a year ago. Net income rose to $7,343,000, or $0.16 pershare, during the fourth fiscal 1999 quarter, compared to net income of$1,991,000, or $0.05 per share, a year ago.
Walt Disney Co.'s earnings plunged almost 41% in its second quarter. Although Disney said it expects improvement in the second half of the year, it still plans to review its operations in a bid to make them more efficient and increase cash flow. The Burbank, California-based media and entertainment giant turned in net income of $226 million, or 11 cents a diluted share, for the quarter ending March 31, compared with $384 million, or 18 cents a diluted share, in the same period a year ago.
In opening statements in the second phase of a $250 million breach-of-contract lawsuit, Jeffrey Katzenberg's lawyer Bert Fields presented a series of memos to bolster his argument that Disney concocted a contract argument over an incentive bonus to deprive Katzenberg of the money he was owed for making the Disney company a success while he was the chief of Disney's film entertainment division. During Katzenberg's first few years at Disney, operating income went from $2.3 million in 1984 to $186.3 million in 1988.
Pixar Animation Studios' revenues for the first quarter were $3.4 millioncompared with $5.0 million in the first quarter of 1998. Net income for thefirst quarter was $900,000 compared with $3.8 million for the first quarterof 1998. Diluted earnings per share for the first quarter were $0.02compared with $0.08 for the first quarter of 1998.
A BUG'S LIFE has earned $162 million in domestic box office receipts and$190 million in international box office receipts, totaling $352 million