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Companies Report 2Q Earnings

Time Warner, Viacom, and Pixar all reported second quarter financial results this week. Time Warner’s revenues decreased 1% over the same period in 2004 to $10.7 billion, with expected declines at the Filmed Entertainment and AOL segments offset almost entirely by growth at the Cable, Networks, and Publishing segments. The Company reported an Operating Loss […]

Time Warner Settles Securities Fraud Litigation

A $2.5 billion settlement of the Time Warner Securities Fraud litigation was announced on Wednesday by Lead Plaintiff’s Counsel, Heins Mills & Olson, P.L.C. of Minneapolis, and the defendants. In addition, $150 million recovered by the Department of Justice will be distributed to class members and, subject to consent from the SEC, $300 million recovered […]

Viacom Names Joseph Ianniello Senior VP and Treasurer

Joseph Ianniello has been appointed Senior Vice President and Treasurer of Viacom, the company announced yesterday. In his new position, Ianniello will be responsible for corporate development, corporate finance, worldwide treasury, and risk management activities for the company. He will continue to report to Viacom’s Executive Vice President and Chief Financial Officer, Michael Dolan. [Source: […]

Corus Reports Third-Quarter Profits

Corus Entertainment, parent of Nelvana Studios, Teletoon, and YTV, earned $19.4 million in the third quarter of 2005, up from a loss of $51.2 million in the same period a year ago, the company said yesterday. Revenue rose 5% to $171.9 million. For the nine-month perioed ended May 31, revenue rose slightly to $507.8 million. […]

Corner Stone and OBX Form New Animation Company

Corner Stone Pictures and OBX Capital Group today announced the formation of a new joint venture, Corner Stone Animation. The new company will operate as a subsidiary of Corner Stone Pictures. [Source: PR Newswire]

Vanguard Names Isaac to Production Post

Vanguard Animation has named Margaret French Isaac its executive vice president of production & development, AWN reports.

Apax Buys HIT, Names New Execs

Apax Partners has completed its acquisition of HIT Entertainment and named Greg Dyke, formerly director-general of the BBC, as the company’s new chairman, according to World Screen. Bruce Steinberg has been named CEO.

Nettleton, Goldberger Named to Posts

DIC Entertainment has promoted Shannon Nettleton to vice-president of production, World Screen reports. Separately, the site also reports that Icon Animation has named Christophe Goldberger to head its distribution and marketing units.

Time Warner To Begin Paying Dividend

Time Warner, parent of Warner Bros. and Cartoon Network, will begin paying a $0.05 quarterly dividend beginning in the third quarter of 2005, the company said today. [Source: Business Wire]

BKN Looks To Raise Money for New Toons

BKN International is exploring a deal that would finance two new animated series, Shanghai Tiger and Triple Threat from Outer Space, by selling 1.5 million shares in the company, World Screen reports. The proposed deal would raise eight million euros through the private placement of the new stock.

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