Animation Studio Nelvana Cuts Top Exec, Pauses Development and Undergoes Layoffs
Animation powerhouse Nelvana, which has produced and distributed some of the biggest names in kid’s TV content over 50 years, is losing its studio production head amid a wave of cost-cutting by parent Corus Entertainment.
Nelvana Studios vp Athena Georgaklis, whose TV credits as development and production head include The Hardy Boys, Miss Persona and Camp Lakebottom, is set to leave Corus on July 26. Toronto-based Nelvana, producer of classic children’s series like Barney, Franklin, Babar and Rolie Polie Olie, is also hitting the brakes on content development for the rest of 2024.
On Friday, a spokesperson for Corus confirmed to The Hollywood Reporter “that the difficult decision was made this week to pause development work at Nelvana, resulting in a small number of exits,” without offering additional details. In July 2023, New York-based private equity firm Integrated Media Company bought Toon Boom Animation from Nelvana for $111 million to allow parent Corus to pay down debt.
Nelvana Studios vp Athena Georgaklis, whose TV credits as development and production head include The Hardy Boys, Miss Persona and Camp Lakebottom, is set to leave Corus on July 26. Toronto-based Nelvana, producer of classic children’s series like Barney, Franklin, Babar and Rolie Polie Olie, is also hitting the brakes on content development for the rest of 2024.
On Friday, a spokesperson for Corus confirmed to The Hollywood Reporter “that the difficult decision was made this week to pause development work at Nelvana, resulting in a small number of exits,” without offering additional details. In July 2023, New York-based private equity firm Integrated Media Company bought Toon Boom Animation from Nelvana for $111 million to allow parent Corus to pay down debt.
- 7/19/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
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