Category: Business

Creek & River America (C&R), a talent management company representing freelance creative artists and production and design firms, has opened its first North American office in New York. Creek & River America represents U.S.-based talent on behalf of its parent company, Tokyo-based Creek & River Co., Ltd., which currently represents more than 20,000 creative artists including directors, producers, cinematographers, animators, designers, illustrators, copywriters and photographers.

In announcing its fourth quarter and August 31, 2002 year-end results, Corus Entertainment Inc. revealed it has taken a CAD$200 million (approx. US$128 million) write-down of its investment in Nelvana. Nelvana is a wholly-owned subsidiary of Corus Entertainment. The company took the write-down because of the slowdown in the production and distribution industry over the past year. The write-down includes $40 million (US$25.6 million) from Nelvana's library and $160 million (US$102 million) for goodwill and other intangibles.

The long-running litigation over WINNIE THE POOH royalties took a startling turn as accountants hired by the court to audit Disney's records were officially fired on October 25, 2002. Los Angeles County Superior Court Judge Ernest M. Hiroshige had determined that the accountants were biased in favor of Disney and their auditing methods unreliable. He has ordered that a new independent accounting firm be hired.

ELECTRONIC MEDIA ONLINE is reporting that U.S. broadcast network UPN will be dropping Disney's two-hour animated block beginning in 2003, opting instead to give the time slots back to stations. The kids' block airs weekdays on various UPN affiliates and features such series as DIGIMON and DISNEY'S RECESS. Disney has been programming the block since 1999. The two-hour slot will likely be handed back to affiliates for syndicated or local programming, effectively removing at least one network from the broadcast 'toon wars.

Childrens entertainment outfit HIT Entertainment reported record financial results for its fiscal year, which ended July 31, 2002.

RTV Family Entertainment AG has announced that the company has been successfully restructured, thanks in part to downsizing of staff and a capital increase in cash. In May 2002, RTVs steadily declining economic situation put the company into dire straits until a bridge credit line was issued to them in mid-June 2002. The funds were backed by a letter of credit from RTV's majority shareholder Ravensburger AG. Ravensburger has also taken over the 4.9 million Euros debt that remained, which will now allow RTV to refocus on its core business.

DECODE Entertainment and Sunwoo USA, a wholly owned subsidiary of Sunwoo Entertainment, have finalized a co-production deal to produce the series B-BOT VS. THE ALIEN POSSE. The deal is being called the first Canadian/Korean co-production based on a property developed by a Korean company. Sunwoo USA developed the show for television from a concept originally created by Sunwoo Entertainment's commercial division for an advertising campaign. The concept was introduced at MIP 2002 and caught the attention of DECODE.

Continuing a 50 year-old Hollywood Animation tradition, Los Angeles, New York and London-based Unbound has moved its Unbound Animation Studio into the buildings occupied by Playhouse Pictures since 1952. Playhouse, which is relocating to larger facilities in West Los Angeles, is recognized by the City Council of Los Angeles as the oldest continuously operating animation studio in Hollywood, and second oldest (after Disney) in the world.

Perky Pickle Studios, a new full-service animation studio has launched in Burbank, California. Helmed by award-winning animation filmmaker Jordan Reichek, Perky Pickle will offer a variety of animation techniques including 2D traditional, 3D and Flash. Said Reichek, "Top talent with strong leadership and financial responsibility are the cornerstones of the Perky Pickle Studio mantra. With this idea, we hope to provide a creative haven for our clients and employees." The studio has already partnered with artist Robt. Williams to develop his bizarre artwork into animated properties.

UK-based entertainment and sports marketing company CSS Stellar has acquired a majority shareholding in Target Distribution from founder shareholder Tiger Aspect Productions (MR. BEAN). In June 2002, Target had agreed to a merger with the Just Group, with Just Group proposing a 54% stake in the company to be purchased with funds raised by shareholders. This deal fell through in late summer, although Target continued to pursue a financial and strategic partner.

Capitalizing on the name-recognition of the Sony brand, the company announced that it will be renaming its domestic and international television divisions. Columbia TriStar Domestic Television (CTDT) and Columbia TriStar International Television (CTIT) will now operate under the names Sony Pictures Television (SPT) and Sony Pictures Television International (SPTI), respectively.

Animation and family entertainment reps The Gotham Group have reemerged from the break up of Artists Management Group, where they functioned as AMG's animation agency, and have forged a strategic relationship with The William Morris Agency (WMA). The announcement was made jointly by Jim Wiatt, president and co-CEO of the William Morris Agency and Ellen Goldsmith-Vein, CEO/founder of The Gotham Group. WMA will also represent Goldsmith-Vein and Gotham in their role as producers and expect to announce a first look deal at a major studio shortly. Gotham also plans to branch out to live-action.