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Classic Media Gets Cash Infusion

Spectrum Equity Investors has invested $75 million in Classic Media and arranged for a new $100 million senior debt facility, World Screen reports. The deal makes Spectrum the majority owner in Classic Media.

OMSI, Cartoon Network Announce Traveling Animation Museum

The Oregon Museum of Science and Industry (OMSI) and Cartoon Network will partner to produce an international touring exhibit to illustrate the art of animation, the organizations said today. Animation will be a 6,000-square-foot, highly interactive traveling exhibition bringing together art, math, science, and technology to illustrate the world of animation. It will showcase cartoon […]

Classic Media Joins Hunt for HIT

Lions Gate Entertainment and Classic Media have approached HIT Entertainment with unsolicited takeover offers, according to New Ratings. HIT says that the offers are preliminary and there is no assurance that either company will make an offer. HIT has already agreed to be purchased by Apax Partners and has given its shareholders three weeks to […]

Two Suitors Circling HIT

HIT Entertainment may be the target of two unsolicited takeover bids, the Associated Press reports. The producer of Barney and Bob the Builder says that Lions Gate Entertainment and another, unidentified company have expressed a tentative interest in purchasing the company. The interest comes shortly after HIT agreed to be purchased by Apax Partners, a […]

HIT Entertainment Agrees to Buyout

Thomas the Tank Engine-producer HIT Entertainment will be purchased by venture capital firm Apax Partners in a $934 million deal, according to AWN. Talpa Media, HIT’s second-largest shareholder, is reportedly supporting the deal but also seeking an agreement that would give it distribution rights to HIT brands in the Benelux countries. HIT recently reported a […]

Fox Shareholders Accept News Corp. Offer

Minority shareholders of Fox Entertainment Group have accepted a buyout offer by News Corp. for their shares, according to the Los Angeles Times (link requires free registration). Shareholders will receive 2.04 nonvoting shares of News Corp. in exchange for each share of Fox Entertainment stock.

Mainframe Reports Small Profit for 2004

Mainframe Entertainment eked out a $67,000 profit in the fourth quarter of 2004, according to cnews. Revenues rose to $5.56 million from $2.33 million in the year-ago quarter.

Time Warner Profits, Revenues Up in 2004

Time Warner had operating income of $1.6 billion in the fourth quarter of 2004, a 7% gain over the same period in 2003, the company announced today. Revenues rose slightly to $11.1 billion. For the full year, Time Warner’s operating income rose 17% to $6.2 billion and revenues rose 6% to $42.1 billion. Every division […]

Analyst: Disney Animation Studio Could Ding Pixar

In reiterating their current rating and target price for Pixar stock, Banc of America has stated that Disney’s planned CGI animation studio may have a negative halo effect on Pixar if Disney’s sequels to Pixar movies are poorly done. It also points out that the creation of the studio suggests a reconciliation between the two […]

Fox Profits Up in Second Quarter

Fox Entertainment saw its second quarter operating income climb to $752 million, up 35% from the same period last year, the company said today. Revenue rose 17% to $3.9 billion. For the six months ended December 31, operating income rose to $1.4 billion from $1.2 billion. Six-month revenues rose to $6.8 billion from $6.1 billion. […]

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