Kids
Disney Q1 net profit grows on DVD sales
MUMBAI: US media conglomerate Disney blew past Wall Street expectations as it reported strong first quarter earnings on gains from the sale of its shares in US Weekly magazine and the E! Entertainment channel.
Even without the one-time gains, which boosted earnings by 29 cents per share, the media conglomerate beat analyst forecasts by 11 cents per share on strong performance from sales of DVDs, including Pirates of the Caribbean: Dead Man’s Chest.
In the quarter ended 30 December 2006, Disney earned $1.7 billion, or 79 cents a share, which includes a gain of 39 cents a share from the sale of Disney’s stake in E! Networks and Us Weekly. Excluding the gains, the earnings did top analyst estimates of 39 cents a share.
Quarterly revenues were $9.73 billion, driven by DVD sales of Pirates of the Caribbean: Dead Man’s Chest, Cars and High School Musical along with strong results from ABC and ESPN.
Net income rose from $734 million in the first quarter last year to $1.7 billion. Revenue grew 10 per cent to $9.7 billion. Disney CEO Bob Iger said, “These results are particularly gratifying given the great year we had in 2006 and are another clear sign our strategy is driving growth and creating shareholder value.”
Kids
Mukta Arts and Green Gold ink MOU to animate iconic film IPs
Kalicharan, Karz, Hero, Karma, Ram Lakhan to spawn animated shows plus features.
MUMBAI: When classic hindi movie meets animation, the result is a fresh reel of nostalgia with a cartoon twist. Mukta Arts Ltd. and Green Gold Animation have signed a Memorandum of Understanding (MOU) to collaborate on animated shows and feature films drawn from Mukta Arts’ four-decade treasure trove of iconic IPs. The partnership taps Mukta’s SGM Animation Studio launched in 2025 as its dedicated animation and games arm and Green Gold’s proven track record in building scalable, homegrown franchises. Creative teams from both sides have already kicked off discussions, with the first project currently in development.
The slate will draw inspiration from landmark Mukta films including Kalicharan, Karz, Hero, Karma, Ram Lakhan, Khalnayak, Saudagar and Iqbal, plus character-led spin-offs from those universes. The aim is to reimagine these stories for today’s young, global audiences while preserving their emotional core.
Green Gold Animation (home of Chhota Bheem) founder and CEO Rajiv Chilaka said, “This partnership with SGM Studios allows us to apply our experience in building long-lasting animation IPs to a truly iconic film catalogue. Together, we aim to create animated worlds that are rooted in these legendary stories, yet designed to connect with today’s young, global audiences.”
Mukta Arts Ltd. filmmaker and founder Subhash Ghai added, “Mukta Arts has always believed in creating stories with lasting emotional value. Through animation, we are extending our IP into a new medium for the next generation.”
In an industry where timeless tales never go out of fashion, this collaboration promises to bring beloved characters back to life with a modern, animated glow proving that some stories are too good to stay in live-action. Stay tuned for the first animated frame to drop.
