Category: Business

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

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

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

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.

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.

Silicon Graphics, Inc., the 17-year-old high-tech company known forbreakthrough graphics in movies such as JURASSIC PARK, is changing its nameto SGI. The change is part of a major branding shift, which also includes anew logo, national advertising and consolidation of hundreds of separateproduct brands. SGI decided to change its name after a branding consultantfound that while the company's products were perceived as innovative andvisionary, the company was viewed as a niche-oriented, high-performance 3D

Disney, the Burbank, California entertainment company, is considering waysin which it could package its Disney Online assets together with thecompany's 43% stake in Infoseek Corp., of Sunnyvale, California, for apublic offering, according to THE WALL STREET JOURNAL. Disney and Infoseekjointly created and own the Go Network Internet portal launched earlierthis year. Disney Online operates the Disney.com Web site. Disney hasrecently begun negotiations to take majority control of Infoseek sooner

CINAR Corp. has announced that the company's options have been approved forlisting on the American Stock Exchange (AMEX), the Chicago Board OptionsExchange (CBOE) and the Philadelphia Stock Exchange (PHLX). CINAR optionsbegan trading on all three exchanges under the symbol "CUF" on Wednesday,April 7, 1999. CINAR Corporation is an integrated entertainment andeducation company involved in the development, production, post-productionand worldwide distribution of non-violent, quality programming and

Marvel Enterprises has secured a $60 million credit line from Citibank. This lends credence to rumors that it is interested in taking over Harvey Entertainment which owns the rights to many animated and comic book characters such as Casper the Friendly Ghost and Richie Rich. Three years ago, Marvel Entertainment Group filed for bankruptcy. Toy Biz, which had been a subsidiary, acquired the bankrupt Marvel Entertainment Group, then created Marvel Enterprises as the umbrella company.