MGA Establishes MGA Studios with $500 million in Cash and Assets; Acquires Pixel Zoo Animation
The move signals MGA’s strong commitment to growing its dominance in the rapidly evolving digital entertainment landscape by pursuing strategic gaming and tech acquisitions or partners
LOS ANGELES, Nov. 14, 2022 (GLOBE NEWSWIRE) -- MGA Entertainment, Inc. (MGA), one of the world’s largest and fastest growing privately held toy and entertainment companies, announced today the formation of MGA Studios, an independent subsidiary of MGA, backed with more than a half billion dollars in cash and assets. This move underscores MGA’s continued commitment to a rapidly evolving digital entertainment landscape. In fact, more than 35 years ago, when it wasn’t usual in the toy industry to incorporate entertainment, MGA embraced it and changed the company name from Micro Games of America to MGA Entertainment, Inc.
“While continued innovation in the toy category remains a key driver for our business, we understand the world is changing and are fully committed to carrying our winning legacy into this new and evolving digital landscape,” said Isaac Larian, Founder and CEO, MGA Entertainment, Inc. “In addition to growing our large catalogue of television, movie and streaming content, through MGA Studios we aim to create smaller and safer mini universes for our children to grow and develop in a seamless digital and physical entertainment ecosystem.”
MGA Entertainment also announced today that Pixel Zoo Animation, one of the leading digital animation studios globally, is MGA Studios’ first acquisition. During the past several years, Pixel Zoo has pushed the limits of high-quality animation and content for children and families. Paul Gillett, Founder and CEO of Pixel Zoo, will continue in his role supporting MGA Studios’ growth into a dominant position globally.
“During the past few years, we have been extremely impressed by MGA’s brands, how they partner with their suppliers, as well as their creative and execution capabilities. Intellectual Property development has always been an important part of our studio and this opportunity allows our team to show the world what we can do,” said Gillett. “Working with MGA has been one of the most rewarding experiences we have had, so partnering with them is the next natural step for us. I am excited for our studio to be the first foundational building block of MGA Studios.”
MGA Studios will be charged with independently developing and growing a digital presence through acquisitions, partnerships, and in-house development of innovative content and original intellectual property (IP). MGA Studios will leverage MGA Entertainment’s existing and future IP including L.O.L. Surprise!™, Little Tikes® Let’s Go Cozy Coupe®, Rainbow High™, Bratz®, Baby Born®, Mermaze Mermaidz™, Na! Na! Na! Surprise™, and more, with great new content and brands coming soon.
“MGA Entertainment has demonstrated time and again our ability to create multiple blockbuster brands from the ground up. The purpose of MGA Studios will be to facilitate the expansion of these brands beyond the toy aisle and turn them into true transmedia franchises, including entertainment, gaming, and online experiences,” said MGA Studios President, Jason Larian. “We are committed to bringing new partners into the fold to help realize our vision and the Pixel Zoo acquisition is the first step of many on this journey.”
MGA Entertainment and Pixel Zoo have collaborated on many notable projects during the last several years including L.O.L. Surprise! The Movie, available on Netflix; L.O.L. Surprise! House of Surprises series, available on YouTube and Netflix; Rainbow High series, available on YouTube and Netflix; Mermaze Mermaidz series, available on YouTube; Let’s Go Cozy Coupe series, available on YouTube and Amazon; and more. Their latest project together, L.O.L. Surprise! Winter Fashion Show movie, premiered on Netflix this past October.
About MGA Entertainment
MGA Entertainment is one of the world's fastest growing and largest privately held toy and entertainment companies. Headquartered in Chatsworth, Calif. and with offices globally, the company creates innovative, proprietary, and licensed consumer products and entertainment, including toys, games, dolls, apparel, consumer electronics, home décor, stationery, sporting goods, movies, and television series. The MGA family includes award-winning brands such as L.O.L. Surprise!™, Little Tikes®, Rainbow High™, Shadow High™, Bratz®, MGA’s Miniverse™, Na! Na! Na! Surprise™, Mermaze Mermaidz™ Color Change, Micro Games of America™, Baby Born® Surprise and Zapf Creation®. For more information, please visit us at www.mgae.com or check us out at LinkedIn or Twitter.
About MGA Studios
MGA Studios is an independent subsidiary of MGA Entertainment, Inc. and a Delaware C-corp. The company is focused on developing and growing a safe digital environment for children and families to come together and enjoy wholesome entertainment across digital and physical platforms. MGA Studios has rights to more than 7,000 trademarks, patents, and copyrighted works and has financial backing of MGA Entertainment, Inc. For more information, please visit www.MGAStudios.com
About Pixel Zoo
Pixel Zoo is a full-service animation studio that has focused on digital content in both short and long forms. Based in Brisbane, Australia, Pixel Zoo is at the cutting edge of animation, pushing the boundaries and developing new techniques that have continually kept them on top as the industry develops and changes around them. Lead by a team of creatives Pixel Zoo prides itself on delivering a product that speaks for itself.
NOTE TO EDITOR: Video clips and stills available of animated series and movie on request.
AttachmentsTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Park Place Technologies Acquires CentricsIT Global Services Division8.12.2022 20:35:38 CET | Press release
Purchase Strengthens Park Place as Global Leader for all IT Infrastructure Solutions, as Economy and Skills Gap Challenges Impact Global Business. CLEVELAND, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Park Place Technologies, the leading global data center and networking optimization firm, has acquired the TPM and Professional Services assets of CentricsIT, an IT services provider based in Atlanta, Georgia. The demand for Professional Services is growing globally, driven by economic conditions and skills gaps. Park Place’s Professional Services offering will benefit from the acquisition with greater capabilities in IMAC, ITAD, Remote Hands, and deployment services, including cabling, wi-fi surveys, data center installs and refreshes, and network installations. Park Place clients will benefit from a state-of-the-art Professional Services portal developed by CentricsIT that provides real-time project status, reporting, and collaboration tools. Park Place’s Project Management Office function will
Lumina Datamatics Acquires UK-based Sunrise Setting Ltd.8.12.2022 20:15:35 CET | Press release
MILTON KEYNES, United Kingdom, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Lumina Datamatics UK Ltd. signed a definitive agreement to acquire a controlling stake in UK-based Sunrise Setting Ltd., a boutique company based in Brixham, UK, supporting academic and other publishers including non-publisher organizations to produce more than 500 publications each year. “The acquisition of Sunrise Setting Ltd. deepens our commitment to our current customers, and also fits with our strategic growth plan. Sunrise Setting Ltd.’s customers will benefit greatly from our broad range of publishing and technology solutions. The depth and experience of Sunrise Setting Ltd. will enhance Lumina Datamatics’ presence in the UK and EU regions and will help us gain a competitive advantage in the publishing space,” said Sameer Kanodia, Managing Director & CEO of Lumina Datamatics. “There is clear alignment with our company offerings and we are looking forward to taking advantage of the synergies resulting from our coll
BioGX Launches 'pixl™' Portable qPCR Platform Ex-US With Expanded Test Menu for Infectious Diseases8.12.2022 20:00:00 CET | Press release
BIRMINGHAM, Ala., Dec. 08, 2022 (GLOBE NEWSWIRE) -- BioGX, a global provider of easy molecular diagnostic solutions since 2007, announced the Ex-US commercial release of its portable pixl™ qPCR real-time PCR platform for use with BioGX CE-IVD marked assays, enabling global access and complementing the recent US FDA EUA expanded use of Xfree™ COVID-19 Direct RT-PCR on the pixl. The pixl instrument is a benchtop 4-channel, 16-well, RT-PCR instrument that supports rapid turnaround times for batches of up to 16 samples, with integrated results interpretation on a device with the compact footprint of a touchpad. "pixl, combined with our unique Xfree chemistry, offers a low-cost direct-sample-to-answer PCR solution on a portable, compact device. pixl will provide broader access to clinical laboratories for decentralized PCR testing, enabling faster, better, low-cost near-patient molecular diagnostics," said Shazi Iqbal, Ph.D., CEO of BioGX. This platform was previously CE-IVD marked and can
Notification under Chapter 9, Section 10 of the Finnish Securities Market Act: holdings of The Goldman Sachs Group, Inc. in Nokia Corporation exceeded 5%8.12.2022 19:00:00 CET | Press release
Notification under Chapter 9, Section 10 of the Finnish Securities Market Act: holdings of The Goldman Sachs Group, Inc. in Nokia Corporation exceeded 5% Nokia Corporation Stock Exchange Release 8 December 2022 at 20:00 EET Notification under Chapter 9, Section 10 of the Finnish Securities Market Act: holdings of The Goldman Sachs Group, Inc. in Nokia Corporation exceeded 5% According to a notification received under Chapter 9, Section 5 of the Finnish Securities Market Act (FSMA) by Nokia Corporation, the direct and indirect holdings of The Goldman Sachs Group, Inc. in Nokia have on 2 December 2022 exceeded 5% of the total number of shares and voting rights of Nokia. According to the notification received by Nokia, the holdings of The Goldman Sachs Group, Inc. in Nokia on 2 December 2022, directly and through its controlled undertakings and funds was equivalent to a total of 293,966,891 shares, corresponding to approximately 5.22% of the total number of shares and voting rights of Nok
Grant of Warrants8.12.2022 18:47:01 CET | Press release
December8, 2022 Announcement no. 18 Grant of Warrants COPENHAGEN, DENMARK and BOSTON, MA, USA, December 8, 2022, (GLOBE NEWSWIRE) – The Board of Directors of BioPorto A/S (BioPorto or Company) (CPH:BIOPOR) has, in accordance with its current authorization to issue warrants to key employees of BioPorto, today issued 1,200,000 warrants for the subscription of an equal number of shares. The warrants are issued in accordance with the Company’s remuneration policy and the authorization in section 18 a of the Articles of Association. Each warrant grants the holder the right to subscribe for one share in BioPorto. The exercise price is DKK 2.55 per share, corresponding to the closing price today on Nasdaq Copenhagen. The warrants vest over a four-year period. The warrants include conditions on claw-back in case of e.g., erroneous financial information and provisions on accelerated vesting in case of e.g., a takeover bid and/or business combinations. Detailed terms of the new and existing warr