Film Roman board OKs Pentamedia stake hike
HOLLYWOOD — Film Roman shareholders have approved the $15 million acquisition of a 60% stake in the film and TV animator by Indian animation group Pentamedia.
Also at an annual meeting Monday, shareholders voted to return company founder Phil Roman to a seat on the North Hollywood, Calif.-based company’s board. Roman, who ankled the company a couple of years ago to start an animation boutique, was among directors approved by shareholders.
The $15 million Pentamedia deal was approved by an “overwhelming majority” of shareholders, Film Roman said. The acquisition is expected to close within a few weeks, officials said.
Pentamedia hopes to foster aggressive new growth at Film Roman and has pledged to triple the U.S. company’s annual revenue, which last year totaled $44.6 million. Mostly known for TV animation including work on the long-running Fox series “The Simpsons,” Film Roman lately has gotten more active in film projects.