{"id":82543,"date":"2022-11-14T13:16:22","date_gmt":"2022-11-14T13:16:22","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=102265"},"modified":"2022-11-14T13:16:22","modified_gmt":"2022-11-14T13:16:22","slug":"mga-establishes-mga-studios-with-500-million-in-cash-and-assets-acquires-pixel-zoo-animation","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/mga-establishes-mga-studios-with-500-million-in-cash-and-assets-acquires-pixel-zoo-animation\/","title":{"rendered":"MGA Establishes MGA Studios with $500 million in Cash and Assets; Acquires Pixel Zoo Animation"},"content":{"rendered":"
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The move signals MGA\u2019s strong commitment to growing its dominance in the rapidly evolving digital entertainment landscape by pursuing strategic gaming and tech acquisitions or partners<\/h4>\n

LOS ANGELES, Nov. 14, 2022 (GLOBE NEWSWIRE) — MGA Entertainment, Inc. (MGA)<\/b><\/a>, one of the world\u2019s largest and fastest growing privately held toy and entertainment companies, announced today the formation of\u00a0MGA Studios<\/b>, an independent subsidiary of MGA, backed with more than a half billion dollars in cash and assets. This move underscores MGA\u2019s continued commitment to a rapidly evolving digital entertainment landscape.\u00a0\u00a0In fact, more than 35 years ago, when it wasn\u2019t 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.<\/p>\n

\u201cWhile 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,\u201d said Isaac Larian, Founder and CEO, MGA Entertainment, Inc. \u201cIn 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.\u201d<\/p>\n

MGA Entertainment also announced today that\u00a0Pixel Zoo Animation,<\/b>\u00a0one of the leading digital animation studios globally, is MGA Studios\u2019 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\u2019 growth into a dominant position globally.<\/p>\n

\u201cDuring the past few years, we have been extremely impressed by MGA\u2019s 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,\u201d said Gillett. \u201cWorking 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.\u201d<\/p>\n

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\u2019s existing and future IP including L.O.L. Surprise!\"\u2122\", Little Tikes\u00ae Let\u2019s Go Cozy Coupe\u00ae, Rainbow High\"\u2122\", Bratz\u00ae, Baby Born\u00ae, Mermaze Mermaidz\"\u2122\", Na! Na! Na! Surprise\"\u2122\", and more, with great new content and brands coming soon.<\/p>\n

\u201cMGA 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,\u201d said MGA Studios President, Jason Larian. \u201cWe 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.\u201d<\/p>\n

MGA Entertainment and Pixel Zoo have collaborated on many notable projects during the last several years including\u00a0L.O.L. Surprise! The Movie,<\/i>\u00a0available on Netflix;\u00a0L.O.L. Surprise! House of Surprises<\/i>\u00a0series, available on YouTube and Netflix;\u00a0Rainbow High<\/i>\u00a0series, available on YouTube and Netflix;\u00a0Mermaze Mermaidz<\/i>\u00a0series, available on YouTube;\u00a0Let\u2019s Go Cozy Coupe<\/i>\u00a0series, available on YouTube and Amazon; and more. Their latest project together,\u00a0L.O.L. Surprise! Winter Fashion Show<\/i>\u00a0movie, premiered on Netflix this past October.<\/p>\n

About MGA Entertainment<\/u><\/b><\/p>\n

MGA Entertainment<\/a>\u00a0is 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 d\u00e9cor, stationery, sporting goods, movies, and television series. The MGA family includes award-winning brands such as\u00a0L.O.L. Surprise!\"\u2122\"<\/a>,\u00a0Little Tikes<\/a>\u00ae,\u00a0Rainbow High\"\u2122\"<\/a>, Shadow High\"\u2122\", Bratz\u00ae,\u00a0MGA\u2019s Miniverse\"\u2122\"<\/a>, Na! Na! Na! Surprise\"\u2122\", Mermaze Mermaidz\"\u2122\" Color Change,\u00a0Micro Games of America\"\u2122\",\u00a0Baby Born\u00ae Surprise<\/a>\u00a0and\u00a0Zapf Creation\u00ae<\/a>. For more information, please visit us at\u00a0www.mgae.com<\/a>\u00a0or\u00a0check us out at\u00a0LinkedIn<\/a>\u00a0or\u00a0Twitter<\/a>.<\/p>\n

About MGA Studios<\/u><\/b><\/p>\n

MGA Studios<\/b>\u00a0is 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\u00a0\u00a0www.MGAStudios.com<\/a><\/p>\n

About Pixel Zoo\u00a0<\/u><\/b><\/p>\n

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.<\/p>\n

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NOTE TO EDITOR: Video clips and stills available of animated series and movie on request.<\/p>\n

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