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Janex International Acquires Anvil Studios(October 03, 2001)
Vincent W. Goett, Janex Chairman and CEO, said, "The combined attributes of Janex, with our enterprises in toys, games, books and interactive technology, coupled with the capabilities of Anvil Studios to provide theatrical, television and computer graphic/3D animation, solidifies our strategic initiative to establish Janex as a major force in the children's entertainment/educational market."
Under the terms of the Acquisition Agreement, Janex acquires controlling interest of Anvil Studios for 10,440,000 shares of Janex stock, $500,000 working capital, and $150,000 dedicated production funds.
Robert Dotson, Anvil President, who has over ten years of upper management experience in technology development and entertainment, will direct the operations of Anvil Studios. Mr. Dotson stated, "With the successful completion of large theatrical and television projects for clients such as DreamWorks, Hyperion/Disney and a joint Sony/Columbia -- Warner Brothers production, Anvil Studios has garnered a reputation in the animation industry as having the ability to deliver a higher quality product in shorter time frames than our competitors. We look forward to utilizing our experience, talent and technology to provide media products to create robust value and exposure for Janex's existing children's product lines."
Anvil is in full production of a television pilot for Joy Berry's "SuperStar Kid's Club" -- a half-hour television show featuring Berry, world-renowned author of over 250 self-help books for children that have sold over 80 million copies and generated gross revenues in excess of 200 million dollars. Anvil Studios and Ms. Berry, creator and executive producer of the TV series, are currently in negotiations with major television networks for the distribution rights to "SuperStar Kid's Club."
Mr. Goett said, "Anvil Studios will leverage its experience, talent and reputation to produce its own original properties. Anvil currently owns rights to a full-length animated feature film "Hope Canyon" which has generated significant interest in Hollywood. In addition, Anvil is in discussions to participate in the development of a theme park and other merchandising products based on the film."
Anvil also holds rights to "Soldiers of Misfortune," a theatrical live-action comedy targeted at families, and an episodic "reality based" television property, under tight wraps, targeted at teens.
Goett also stated that, "Janex will showcase Anvil's 3D interactive animation technology on its innovative and entertaining Web Site: www.okid.com. This will enhance the interactive playability and entertainment value for the entire family. Our site's extensive capabilities afford us another medium in which to introduce and merchandise all of our product lines."
Janex is currently organizing a transition of its corporate offices to Phoenix, most probably to the 2700 Building on Central Avenue where Anvil Studios has maintained offices and production facilities. "As we swing these major properties into full production ("Hope Canyon," "Superstar Kid's Club," and "Soldiers of Misfortune") we anticipate increasing our personnel in the Phoenix area to over 200, and possibly more to support those projects. Ninety percent of those associates will be production staff and artists working directly on the film and television properties," stated Goett. "We are excited about what this will do for the community and for those talented folks who have been waiting so long for this to materialize in Phoenix."
As a result of the value of these business developments, Janex has secured the services of Mr. Beau Van Deren as Chief Financial Officer. Van Deren, in addition to the value of his CPA and law background, provides a great deal of experience in creating financial cohesion in diverse ventures. "Beau brings not only key public (company) experience to us but also an ability to see the vision, codify it, and be part of the team in execution -- both financially and operationally," says Goett.
For more information, visit www.anvilstudios.com
Related Keywords:3d animatoin, digital facility
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