Claiming a project budget exceeding $ 50 million, Nest Entertainment, a Los Angeles-based direct-response marketer of family oriented video, has launched separate production, operation and marketing divisions.
The move will allow Nest to move into animated feature films, live-action children’s programming, television, music and books.
The company has specialized in marketing video through retail, telemarketing and infomercials.
Nest’s drive into the new areas is partly fueled by Prudential Equity Investors, which recently obtained an undisclosed equity position in the company.
First acquisition under Nest’s new venture is Burbank-based Rich Animation Studios, sum not disclosed. The studio’s first animated feature, which has the working title “Swan Lake,” is in production and has a combined marketing and production budget of $ 35 million. The full-length “Swan Lake” musical is set for a November 1994 release.
Nest Prods. is also creating a half-hour animated version of the Hanukkah story focusing on the Macabees, the title to become part of the company’s ongoing “Living History” series. The production will be supervised by Rick Rich, president of Rich Animation, and Matt Mazer, executive VP of Nest Prods.