Digital Media FX News Archives

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Monday - November 26, 2001
- Snow White Scores Big Overseas
- Release Charts: Animated, Anime, and FX DVDs
- CINAR Press Release on Restructuring
- News Link of the Day - Harry Potter Breaks More Records

Snow White Scores Big Overseas
(by digitalmediafx.com) Snow White and the Seven Dwarfs is now the second top selling title ever, overseas, according to Disney. The claim takes into account the 1994 release of the video. The only title to outsell Snow White is Titanic. Since being released to video and DVD last month, Snow White has made $160 million overseas and much more from the 1994 video release.

The Snow White DVD and VHS will only be available for a limited time before it is put into Disney's "10 year holding pattern" to regenerate interest in sales.

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Release Charts: Animated, Anime, and FX DVDs
(by digitalmediafx.com) Here are new animated, FX, and anime DVDs hitting store shelves tomorrow.

Willow (1988 - FX)
Dragon Ball Z - Frieza - Fall of a Tyrant (1996 - anime)
Gasaraki - In the Spider's Web - Vol. 7 (anime)
Sailor Moon S - Heart Collection VI (1995 - anime)
Amazing American Animation Archive (early animation)
The Johto Journeys - Azalea Adventures - Vol. 47 (anime)
The Johto Journeys - Buggy Boogie - Vol. 48 (anime)

If you haven't yet ordered the Snow White DVD (availability will be limited), click here.

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CINAR Press Release on Restructuring
(by digitalmediafx.com) CINAR has put out a press release commenting on the restructuring it is going through as the company tries to overcome many problems. The press release says, in part, the following:

CINAR Corporation has announced that it is introducing a restructuring of its corporate offices and Entertainment Division. The Company also announced that it has appointed Richter, Usher & Vineberg as auditors.

Under the restructuring, CINAR's Montreal staff will be reduced from 164 to 110. No staff reductions are slated for the Company's Education Division.

"This is very difficult for CINAR and for a group of very talented people whose services we can no longer retain," CINAR President and CEO Barrie Usher said in making the announcement. "However, we believe that, given the difficult environment under which we are operating, this action will best ensure the Company's ongoing viability and protect shareholder value. Our goal is to solidify the position of key entertainment properties - Arthur and Caillou - for which demand remains strong, and to continue to build on the successes of our Education Division and our licensing business," he added.

Of those employees affected by the announcement, 32 are in corporate positions and 22 are in CINAR studios and animation. The company is offering an appropriate severance package as well as job placement and counseling to those affected.

The restructuring is the latest of several administrative steps taken during the past 20 months by CINAR's current management to put the Company on a solid footing once again. Under current management, efforts have been focused on resolving the complex issues it inherited, including allegations that CINAR had improperly obtained tax credits from the Canadian government, the transfer of US$122 million into offshore investments without the approval of the Board and other financial issues.

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News Link of the Day - Harry Potter Breaks More Records

According to BBC News:

"The Harry Potter film has broken yet another box office record - beating Toy Story 2's previous best for takings over a Thanksgiving weekend in the United States.

Harry Potter and the Sorcerer's Stone has now earned $188m at US screens in just 10 days..."

Click here for the full story.

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