IDT Media to Acquire Controlling Interest In Film Roman Inc.
May 16 2003
http://www.idt.net
IDT Media today announced that its animation production unit, Digital Production Solutions (DPS), pursuant to a letter agreement, will acquire a 51% interest in Film Roman, Inc., a leading independent animation company, through the purchase of newly issued shares of Film Roman common stock.
Film Roman is known for its production work on animated television programs including The Simpsons and King of the Hill. IDT Media is a subsidiary of IDT Corporation, a multinational carrier, telephone and technology company.
Film Roman, Inc. develops, produces and distributes a broad range of television programming for the television network, cable television, first-run domestic syndication and international markets. The company, founded in 1984 by acclaimed animator Phil Roman, has grown into one of the leading independent animation studios in the world. Film Roman has produced and continues to produce some of the world's best known animated series, including The Simpsons, King of the Hill, X-Men, The Mask, Bobby's World, The Twisted Tales of Felix the Cat and Garfield & Friends. Recently, the company announced it will be teaming up with Showtime Networks Inc. to bring to life the characters of Brett Merhar's popular comic strip "Free For All" for Hi-Definition broadcast release in summer 2003.
"With 18 Emmys and program credits that include TV's best loved, most successful primetime animated series, Film Roman is the broadcast industry's leading animation company," said Jim Courter, IDT's CEO, and a Director of IDT Media. "With this acquisition, IDT Media's Digital Production Solutions unit takes its place among the world's animation production leaders."
"Digital Production Solutions brings Film Roman the ability to combine our creative strengths with the incredible technological abilities of DPS. Together we will be able to innovate and build a powerhouse in animation, both 2D and CGI," stated John Hyde, President and CEO of Film Roman, Inc.
Digital Production Solutions is aggressively pursuing the acquisition and licensing of program ideas and properties suitable for animation. These properties can now be jointly produced by DPS and Film Roman.
"This acquisition has great synergy and works well for both companies," said Morris Berger, IDT Media's Executive Vice President of Business Development. "By adding Film Roman's 2D animation expertise to our 3D animation capability, we create a powerhouse animation company and at the same greatly enhance the profit potential of the companies' productions using DPS' proprietary production management protocol tools."
In March of this year, DPS acquired rights to never-before-seen projects created by Gene Roddenberry. "Gene Roddenberry's Starpoint Academy" and "Gene Roddenberry's Char," are the first original properties acquired by DPS. DPS is currently working on a co-production with Jim Jinkins and David Campbell of Cartoon Pizza, the creators of Doug, Stanley and PB&J Otter. In addition, the DPS studio has produced episodes of Monster by Mistake under an agreement with CCI Entertainment, Ltd to be broadcast in the United States, Canada, Australia and Germany.
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