AWN Headline News

iFilm has laid off 15 employees, or 10% of its staff. The move was made to release some pressure on the Netcaster's capital. The cuts were across many divisions and come on the heels of the firm's launching of three new projects the iFilm portal, the relaunch of iFilmpro and an online testing business. In the past year, iFilm has purchased film industry business-to-business services such as Film Finders, the Hollywood Creative Directory, Lone Eagle Publishing and TV Tracker. However, rumors have flourished that the company is backing away from a b2b model and refocusing on content.

Oscar-winning director/actor Billy Bob Thornton is teaming with Acme Productions on a new TV animated series. The currently untitled series is based on an idea by Thornton about a father who has been in a garage band for the past twenty years. The SLINGBLADE director will team with Emmy-winning SIMPSONS writer, Ron Hauge, on developing the project. Thornton will also voice the main character. Acme Production is the six-month-old production company formed by former 20th Century Fox executives Mindy Schultheis and Michael Hanel.

Berlin children's producer TV Loonland has bought a 65% stake in Seoul distribution firm Saerom Entertainment. Saerom is the third-largest video and DVD distributor in Korea and controls a leading Internet film portal, which it has been leveraging as a new means of distribution. TV Loonland will pay US$9.5 million for its share of the company, which foresees sales of $14 million and profits of $2 million for the year 2000. The move is yet another step in TV Loonland's global expansion, giving the company a strong distribution and Internet foothold in Asia.

On Thursday, December 14, 2000, the Federal Trade Commission approved America Online's US$111 billion acquisition of Time Warner. As part of the approval, AOL must open its high-speed Internet access to competitors. At least three Internet service providers (ISPs) must be offered when AOL/Time Warner enters a new market. "Our concern was, and has always been, about access," said FTC chairman Robert Pitofsky.

DIC Entertainment is teaming with Tomopoulos Prods. and Jake Steinfeld's Body by Jake Enterprises to create a new animated TV series entitled CAMP JAKE. The show will follow the exploits of the rebellious kids who go to summer camp to get in shape. The companies have agreed to produce 26 initial episodes of the cartoon.

The Walt Disney Co. has inked a deal with Japan's second-largest toy maker, Tomy Co. Ltd., to market, produce and distribute its toys and games in Japan. The exclusive deal does allow Tomy to sublicense certain products to other toy producers. The pact takes affect in April 2001. "This agreement completes a restructuring of our toy business that we began in September, when we established licensing arrangements with Hasbro and Mattel," said Andy Mooney, president of Disney Consumer Products Worldwide.