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--- Imagi News (http://www.gatchamania.net/threadid.php?threadid=2816)
Posted by Becky Rock on 05-02-2010 at 23:37:
Not good news, but not surprising.
Has Tatsunoko (hope I spelled that right) thought about creatiing a new Gatchaman series? Their Karas was odd but had great graphics.
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Posted by tatsunokofan on 05-02-2010 at 23:47:
Hi all!
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Tatsunoko has put together several proposals for a Gatchaman remake over the years, but these have not gone anywhere due to a lack of sponsorship. Their recent success with the Yatterman remake did fuel hopes that Gatchaman might come next, but they're doing a Honeybee Hutch movie instead, in part to capitalize on this being the 40th anniversary for that series.
And no worries, you did spell Tatsunoko correctly.
James
Posted by Firebird on 06-02-2010 at 01:06:
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Like you I have not seen anything independent, The last update on their site was a financial return posted on 4th Feb this year. The one before that mentioned potential investors and that was dated 2nd Feb.
Do you know if Imagi own the rights to Astro Boy? Only ask because there is talk about the character being the 2018/22 world cup mascot for Japan's bid and wondered if theat would generate some funding.
(Yep grasping at straws here but want Gatchaman to be made!)
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Posted by tatsunokofan on 06-02-2010 at 01:11:
Hi all!
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No, they do not. Astro Boy is owned by Tezuka Productions, the studio founded by Astro Boy's creator, Osamu Tezuka. Imagi licensed the rights to create a CG Astro Boy film from Tezuka Productions, the same as they did for Gatchaman from Tatsunoko, but they do not own the rights to either property.
James
Posted by lborgia88 on 06-02-2010 at 02:24:
Sigh.... Given recent news about Imagi, I can't say this is unexpected, but it sure is disappointing.
I guess I really will start keeping an eye on Nikkatsu now to see if they do a live action Gatchaman movie.
Posted by Transmute Jun on 06-02-2010 at 03:25:
None of this is looking very good. I guess we can always hope that someone else might pick up the Gatchaman rights from Imagi... cheap!
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Posted by lborgia88 on 06-02-2010 at 16:36:
Someone on replying on Felix Ip's blog provided some links to a few news articles.
http://felixip.blogspot.com/2010/02/good-bye-imagi.html
I ran one of them, from sina.com.hk, through "google translate."
I really feel bad for all the Imagi employees, in Hong Kong and LA.
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Hundreds of staff are facing redundancy Imagi
2010-02-06 2010-02-06
Imagi employees to pack a lot of personal belongings yesterday, after standing in the buildings where the company's office door, waiting for the arrival of on-call pickup trucks, during which many of my colleagues to meet, they will say "on Wednesday, see" The day will have the final arrangements.
Imagi concentrate produced "Ah Boy", the box office performance is only a general, making the company severe financial hardship, is now negotiating with investors selling. Subsidiary scheme be wound up paving the way for foreign capital
Ming Pao in Hong Kong selling products under negotiation animation production company Imagi International (0585), heard that the plan to its main subsidiary company winding-up may be hundreds of people laid off in the short term, in order to pave the way for the introduction of new shareholders and funds.
Hundreds of the affected staff have been notified yesterday and to day, picking up personal belongings to leave. Near the company's management reported that employees on leave today, next Wednesday there will be the final arrangements for notification. Holds 34.61% stake in Imagi Hong Jinbiao major shareholder, yesterday told the newspaper inquiries may be reluctant to comment on the winding up, only saying, "You should ask the company." Then he hung up. This newspaper could not be contacted Imagi other management queries.
Staff lay-off notice yesterday afternoon to pack personal belongings
Our reporter yesterday evening at Chai Wan Imagi headquarters, employees have seen Imagi with boxes of personal belongings to leave. 7 to 8 in the evening time, there have been more than 40 staff members had to leave the Imagi, which declined to disclose the name of staff, said yesterday afternoon about four or five when the supervisors were told to suspend work next Monday, two do not go to work, to Wednesday was back to the company, the staff now can pick up personal items before leaving, as compensation, has no specific information. Some employees noted that there is no wages problem.
Although there are individual employees depression, verge of tears, but most of the staff, has demonstrated a more adaptable, stating that "we are still young." Outlook not too worried.
Intended to make the announcement Tuesday at once, and those who had entered into an exclusive agreement to vote, and has received 3.5 million yuan, "Earnest Money" and promised investors "exclusive" period, the investor may conduct due diligence review of the company. If the agreement between the parties, meaning horse may be the issue of new shares, and investors will become the company's controlling shareholder, and that significant dilution of existing shareholders of the company's stake in the company selling in disguise.
Survival of a critical moment in the coming week
Close to Italy, said people familiar with the horse, a subsidiary of Imagi is considering liquidation, but there is no final decision, the final program would depend on the outcome of consultations with the investor capital injection.
He said that the consultations Imagi has not stopped the introduction of investors, potential investors will have the sincerity, the current depends on the two sides can reach a consensus on a number of conditions in the next few days to a week, is a critical moment, should be more clearly Imagi Production Limited. According to Imagi Annual Report showed that in Hong Kong, Imagi's principal subsidiary responsible for producing computer animation company Imagi Production Limited.
Another source said that a subsidiary of Imagi nearly 400 employees, was not all be laid off, some only be asked to leave the group if the successful introduction of new investors, I believe should be reinstated.
He said that earlier investment in the film Imagi income poor, so that the Group's operating problems, if not to attract new investors to join or sale of assets, you may want to Brokeback warriors will be a subsidiary of liquidation salvation.
Posted by Transmute Jun on 06-02-2010 at 16:58:
So it sounds like they're still shopping around for funding... but yeah, doesn't look good.
Thanks for posting this, LB.
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Posted by tatsunokofan on 06-02-2010 at 18:09:
Hi all!
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That's what it sounds like to me too. If I'm reading things correctly, it looks as though they have until the end of the week to either find an investor to pump funds into them or someone to buy the company outright, or they'll have to shut down entirely and sell their assets to pay off their debts.
Reading some of the other articles linked to in Felix's blog, or at least rough translations of them, it appears that the 300 staff members at Imagi were let go without any payment for the current wages they are owed, as well as no severance package. Normally, for an immediate layoff such as this, they are supposed to be given the equivalent of 3 months pay to tide them over while they look for new employment. If the employees wish to seek their lost wages, they'll have to apply for them through an insolvency fund This will take time to process, and will delayed even further by the start of Chinese New Year celebrations this week.
It's all very sad to think about, and I wish all of those who were let go the best of luck in quickly landing on their feet.
James
Posted by Tengu on 06-02-2010 at 22:02:
They need to get in contact with Gallactor...
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Posted by lborgia88 on 07-02-2010 at 04:59:
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I can't help but think that if Galactor invested in Imagi, the Gatchaman movie would suddenly have Katse as the main character and the Science Ninjas as the villains-to-be-defeated.
Posted by Becky Rock on 07-02-2010 at 19:27:
That's an interesting twist. Uh-oh. Plot bunnies....
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Posted by UnpublishedWriter on 08-02-2010 at 03:50:
Y'know, that would be interesting, fic-wise. A Gatchaman story or two told from the Galactor point of view. Something to join TJ's 'It's Not Easy Being Green'.
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Posted by amethyst on 08-02-2010 at 17:37:
Or an "Alternate Reality" a la Star Trek's "Mirror, Mirror".
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Posted by Becky Rock on 08-02-2010 at 20:11:
I think there was a fic with that. I'm trying to remember...
Red Impulse was the one that ended up in the alternate dimension and was horrifed to find his son and the team were evil and regularly killing innocent people. Does anyone remember that?
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Posted by Transmute Jun on 08-02-2010 at 20:16:
Well if you really want alternate reality, then this is a great one!
http://gatchfanfic.com/viewstory.php?sid=220
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Posted by tatsunokofan on 09-02-2010 at 19:26:
Hi all,
A bit of a follow-up, this time from the AP:
HK Studio Behind 'TMNT,' 'Astro Boy' Shuts Down
Hong Kong animation studio Imagi International, behind 'TMNT,' 'Astro Boy', shuts down.
By MIN LEE AP Entertainment Writer
HONG KONG February 9, 2010 (AP)
The Hong Kong studio behind "TMNT" and "Astro Boy" has shut down as its parent company tries to recover from losses.
Imagi International Holdings Ltd. said in a statement to the Hong Kong stock exchange that it stopped funding its computer animation studio on Feb. 5 "to further preserve its limited liquidity and shareholder value." The studio will ask a Hong Kong court to name liquidators, the statement issued Monday said.
But Imagi said it will continue to develop movie ideas and outsource the actual animation work to mainland China and other countries, where costs are lower.
Starting out as a Christmas tree manufacturer, the Hong Kong company went into computer animation in 2000 and was touted as a successful transition to a high-tech economy. In 2007, Imagi released its first feature movie, "TMNT." The English-language production based on the characters from the Teenage Mutant Ninja Turtle cartoon series in the 1980s earned a solid $95.6 million worldwide, according to the box office tracking Web site Box Office Mojo.
But Imagi's second release, "Astro Boy," fared poorly last year. Despite hiring an all-star cast including Nicolas Cage and Samuel L. Jackson to voice the characters from the Japanese comic book series by the same name, the film only made $23 million worldwide, according to Box Office Mojo.
In its latest financial results, Imagi said it recorded a net loss of 726 million Hong Kong dollars ($93.4 million) for the six months that ended on Sept. 30, 2009 — just before "Astro Boy" was released in October.
Imagi also owes some HK$36 million ($4.6 million) in back pay to the 350 employees it laid off, Hong Kong's Apple Daily newspaper reported on Tuesday, citing labor organizers working with the former employees.
A woman handling press calls for Imagi said the company had no comment pending a further statement to the Hong Kong stock exchange. She declined to give her name.
The original article can be found here:
http://hosted.ap.org/dynamic/stories/A/AS_FILM_HONG_KONG_IMAGI_STUDIOS?SITE=INLAF&SECTION=HOME&TEMPLATE=DEFAULT
James
Posted by Becky Rock on 09-02-2010 at 20:42:
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I remember that one. It's a fun read.
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Posted by Becky Rock on 09-02-2010 at 20:44:
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I guess that's a good sign. There might be hope yet.
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Posted by Tengu on 09-02-2010 at 21:13:
Nope, no hope
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