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- November 26, 2001
Snow White Scores
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.
Animated, Anime, and FX DVDs
(1988 - FX)
If you haven't yet
ordered the Snow White DVD (availability will be limited), click
CINAR Press Release
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.
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.
News Link of the
Day - Harry Potter Breaks More Records
"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..."
These news articles and all digitalmediafx.com content are ©copyright 2001 by Joe Tracy and may not be reused for any purpose without expressed written consent of the author and Digital Media FX. All rights reserved.