MGA ENTERTAINMENT FORMS SUBSIDIARY, ACQUIRES PIXEL ZOO ANIMATION

KUALA LUMPUR, Nov 15 (Bernama) -- MGA Entertainment Inc (MGA), one of the world’s largest and fastest growing privately held toy and entertainment company, has formed MGA Studios in a move that underscores MGA’s continued commitment to a rapidly evolving digital entertainment landscape.

The subsidiary will be backed with more than half a billion dollars in cash and assets, a statement said.

“In addition to growing our large catalogue of television, movie and streaming content, via 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 founder and chief executive officer Isaac Larian said.

MGA also said that global leading digital animation studio Pixel Zoo Animation is MGA Studios’ first acquisition.

In the past several years, Pixel Zoo had pushed the limits of high-quality animation and content for children and families. The statement said Pixel Zoo founder and CEO Paul Gillett will continue his role to support MGA Studios’ growth.

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, the statement said.

MGA Studios president Jason Larian said MGA has demonstrated time and again its 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,” Larian said.

-- BERNAMA