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| Press Release October 2005 -- First Serve International and Toonz Animation India Announce landmark joint venture |
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| Trivandrum (India) & Los Angeles (USA), September 24, 2005 : First Serve International LLC, a global media company, and Toonz Animation India, an award-winning animation studio, today announced the formation of a joint venture called First Serve Toonz (FST) that will produce and distribute world class animation programming for the international marketplace as well as operate a consumer products licensing business. FST will announce its first major project in the next few weeks. Mr. Vijay Amritraj, tennis legend turned entertainment entrepreneur and chairman of First Serve International, said: "my company is excited to team up with Toonz at this time as India and its animation industry accelerate to new highs. Our joint venture is strategically positioned to take advantage of a tremendous growth in animation and consumer products business in our region and around the world." Mr. P. Jayakumar, CEO, Toonz Animation India said: "While First Serve International brings global experience and perspective to the joint venture, Toonz will deliver cutting-edge creativity and high production values. FST will leverage on the strengths of the two partners to become a significant player in the business." FST marks the coming together of two leaders in the entertainment industry. First Serve International has produced and distributed feature films and television programs globally as well as pioneered setting up consumer products business in South Asia. Toonz is one of the biggest studios in India, a country now slated to become the animation hub of the world. Mr. Ed Borgerding, who spent 20 years with The Walt Disney Company, most recently as Executive Vice President, will be the CEO of FST. Borgerding said: "FST will be working with major Hollywood brands and content companies to develop, finance, produce and distribute top quality productions." About First Serve International First Serve International, LLC is a California based company with offices in Los Angeles, London and India, which produces and distributes motion pictures and television programming. First Serve also offers consulting and marketing services to media companies, markets media related products and engages in related businesses such as consumer products licensing. Besides its well-known Chairman, Vijay Amritraj, First Serve's management includes its CEO, Edward Borgerding, a former senior executive of The Walt Disney Company, and Senior Vice President, Munish (Max) Gupta, a well-known Asian-American journalist turned entertainment entrepreneur. |
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