Investment firm Sequoia Capital has agreed to pump some fresh capital into shockwave.com, the entertainment Internet site owned by Macromedia Inc. Sequoia and other investors will provide $44 million in funding to the site, which will develop new services for its six million members.
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Todd-AO stock has been on a wild ride, plunging 26% ($7.50), Thursday to $21.12. The drop comes after the shares, which have been relatively stable of late in an $18-$19 range, soared from $18 to $29.60 on Wednesday. One Wall Streeter suggested someone “made a mistake” and bought the wrong stock.
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Separately, Liberty Media announced that Carl Vogel has been appointed senior VP, involved in evaluating and managing assets and opportunities in its new media, technology and satellite businesses. Vogel was previously chief operating officer for Field Operations at AT&T Broadband & Internet Services, responsible for all day to day operating activities of its cable properties. Before that he was chairman-CEO of Primestar.
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Police in Hackensack, New Jersey, have arrested 13 people and seized printing equipment and a supply of counterfeit Pokemon trading cards. Police estimate the illegal operation was producing more than $500,000 worth of counterfeit cards per week. Nintendo, Pokemon’s creator, has seized more than $20 million in fake Pokemon products across the U.S.
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Senator Film has posted revenues of DM80 million ($42 million) for the first nine months of its fiscal year — up 180% compared with the same period last year. The company’s earnings before interest, taxes and depreciation skyrocketed by 973% to $5 million. All of Senator’s areas of business, which include production and distribution, saw growth.
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DirecTV Japan posted a 74% month-to-month increase in subscribers to tally 22,100 new members in November, raising its overall subscriber number to 348,700.
DirecTV is Japan’s No. 2 direct-to-home satcaster behind Sky PerfecTV, and it will rely on programming package deals and special broadcasts to boost subscriber numbers as the year ends.
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CIE, Latin America’s biggest promoter of live entertainment, has partnered with Amazing Toys de Mexico to develop kiddie entertainment centers internationally.
CIE subsid Grupo Magico, which manages amusement parks in Mexico and in other Latam markets, paid $1 million for a 50% stake in Amazing Toys, which just opened its first center, La Ciudad de los Ninos (The City of Kids) in September.
The partners plan to operate and develop 200 kiddie cities over the undefined “medium term” outside of Mexico.
Best known for its concert promotions, CIE’s entertainment interests include legit productions, venue management, a Mexico City racetrack and a zoo.