MGA Establishes MGA Studios with $500 million in Cash and Assets; Acquires Pixel Zoo Animation
The move signals MGA’s strong commitment to growing its dominance in the rapidly evolving digital entertainment landscape by pursuing strategic gaming and tech acquisitions or partners
LOS ANGELES, Nov. 14, 2022 (GLOBE NEWSWIRE) — MGA Entertainment, Inc. (MGA), one of the world’s largest and fastest growing privately held toy and entertainment companies, announced today the formation of MGA Studios, an independent subsidiary of MGA, backed with more than a half billion dollars in cash and assets. This move underscores MGA’s continued commitment to a rapidly evolving digital entertainment landscape. In fact, more than 35 years ago, when it wasn’t 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.
“While 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,” said Isaac Larian, Founder and CEO, MGA Entertainment, Inc. “In 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.”
MGA Entertainment also announced today that Pixel Zoo Animation, one of the leading digital animation studios globally, is MGA Studios’ 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’ growth into a dominant position globally.
“During the past few years, we have been extremely impressed by MGA’s 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,” said Gillett. “Working 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.”
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’s existing and future IP including L.O.L. Surprise!
, Little Tikes® Let’s Go Cozy Coupe®, Rainbow High, Bratz®, Baby Born®, Mermaze Mermaidz, Na! Na! Na! Surprise, and more, with great new content and brands coming soon.
“MGA 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,” said MGA Studios President, Jason Larian. “We 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.”
MGA Entertainment and Pixel Zoo have collaborated on many notable projects during the last several years including L.O.L. Surprise! The Movie, available on Netflix; L.O.L. Surprise! House of Surprises series, available on YouTube and Netflix; Rainbow High series, available on YouTube and Netflix; Mermaze Mermaidz series, available on YouTube; Let’s Go Cozy Coupe series, available on YouTube and Amazon; and more. Their latest project together, L.O.L. Surprise! Winter Fashion Show movie, premiered on Netflix this past October.
About MGA Entertainment
MGA Entertainment is 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 décor, stationery, sporting goods, movies, and television series. The MGA family includes award-winning brands such as L.O.L. Surprise!, Little Tikes®, Rainbow High, Shadow High, Bratz®, MGA’s Miniverse, Na! Na! Na! Surprise, Mermaze Mermaidz Color Change, Micro Games of America, Baby Born® Surprise and Zapf Creation®. For more information, please visit us at www.mgae.com or check us out at LinkedIn or Twitter.
About MGA Studios
MGA Studios is 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 www.MGAStudios.com
About Pixel Zoo
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.
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NOTE TO EDITOR: Video clips and stills available of animated series and movie on request.
Attachments
Alan Hilowitz MGA Entertainment, Inc. +1.818.221.4431 news@mgae.com GlobeNewswire Distribution ID 8695466