banjomick
- 15 Jun 2004 08:48
banjomick
- 31 Oct 2005 21:47
- 144 of 1609
Galleon steers out of choppy waters
Galleon Holdings has been through some tough times over the past couple of years, but with a new management team in place and a football-themed sci-fi action cartoon ready to present to broadcasters, the UK kids IP-developer believes its ship is about to come in. By Jonathan Webdale.
January 2005 marked a new start for Galleon as two ex-Chorion executives, Stephen Green (left) and Len Dunne, came on board as the company's new ceo and md respectively. The pair's mission was to steer the vessel into uncharted territory and secure it the TV deals which have so far remained just out of sight on the horizon.
Green and Dunne met while working in licence acquisition and exploitation at toy giant Hasbro, getting themselves involved in properties such as The Transformers and Action Man TV. Green's five year stint at the company was followed by a move to literary rights specialist Chorion where he became director of children's brands, in charge of developing the Noddy franchise, The Famous Five and the Mr Men.
He again worked closely with Dunne, who took over development when Green moved over to head up brand operations. The pair then decided to set up by themselves, basing their eponymous business of a (26x30') series they'd developed called Goalactika-442. A mix of animation and live action, the show has a football theme and is aimed mainly at boys aged 6-12 years old, taking the world's most popular sport as its basis and then heading into outer space.
Discussions with a number of companies led Green and Dunne to Galleon and the company's chairman, Jim Driscoll, agreed to take on the property under the condition that its creators came with it. So in January this year, Galleon's then ceo Simon Driscoll exited the company.
The firm appears to be finding its way out of the doldrums, with a loss last year in excess of 1m narrowing to just under 200k for the six months to March 31, 2005. Admittedly, this has mostly been down to other aspects of its operations (its promotions business, Croco, a publishing arm called A4 and database marketing firm, Probe Media), rather than its TV activities, but the 50% stake it acquired last summer in LA toon house J Christopher Entertainment has begun to bear fruit.
As a result of a review carried out together with J Christopher (a company set up by ex-Disney producer Chris Henderson), Galleon recently reacquired rights to another TV property called Astro Knights. It had been hoped that this $12m project, amounting to a 260-part TV series and feature length film, would be on screen by this September, but slow progress at the Swedish animation partner Galleon chose forced it to sever links last month and bring the whole thing back in house.
With Jaguar Media Entertainment out of the picture, Galleon is handing responsibility for Astro Knights' development to J Christopher. But the property will take a back seat to Goalactika, for which Zoo Films in the UK has just come on board as producer, with Canada's Copernicus animating the series trailer.
"Goalactika is our focus for the time being," says Galleon ceo Stephen Green, going on to add that thanks to Copernicus' expertise the cartoon will be the first in the market to make use of Flash animation which gives a near-3D effect - 2.5D as it's dubbed.
It was because Galleon was keen to get something with a really fresh look out of the door that it opted to go with Copernicus rather than J Christopher. As Green explains, the relationship there doesn't prevent Galleon from working with other partners. "I wouldn't want to become like Hit Entertainment and because I've got a stop-frame business everything I do is stop-frame," he says.
But in another very important respect, Galleon would very much like to be just like Hit and come up with a TV series that takes the world by storm. Green and the Galleon team clearly believe that Goalactika is the property with the greatest potential to achieve this.
Hopes for other series in the Galleon hold, including Oggies, Professor Winklebottom's Universe, Malcolm and Pepper's Patrol, haven't been entirely consigned to Davy Jones' Locker, but they are, at least for the time being, taking an ocean cruise.
"We're a small company and we need to fire silver bullets," says Green. "When we reviewed the slate we saw that some of the series were further developed than others, but looking at what we've got and the feedback we've had over the last six months, we decided the priority should be Goalactika and then Astro Knights."
Green hopes that the former will be on air in 2007 and latter will follow the year after. This ambition has gained the financial weight of a strategic alliance with Imagination Holdings agreed earlier this month, a business headed by venture capitalist David Wong.
As part of the arrangement Galleon has acquired another kids property called Hoo Ha House and Wong has taken a stake in the business, additionally putting in 400k of his own money.
Getting a vc of Wong's stature on board is great news as far as Green is concerned. "When it comes to raising money at a later date for Goalactika or any other project, we know it can be done," says Green. "If we've got a great project we can make it happen."
Which is not to say that Wong's pockets are bottomless or that it's plain sailing quite yet for Galleon, but the horizon's certainly looking brighter for the company these days.
27 Jul 2005
C21 Media 2005
banjomick
- 01 Nov 2005 19:43
- 145 of 1609
Well they didn't drop...which is a good thing!
bhunt1910
- 08 Nov 2005 14:32
- 146 of 1609
20% up today - any news ??
Baza
banjomick
- 08 Nov 2005 16:33
- 147 of 1609
Baza,
News?Not as far as I know,Have just got in!
Just a company that has turned the corner and with great prospects for this/next year.
bhunt1910
- 08 Nov 2005 16:47
- 148 of 1609
Well thank you for the tip - I bought in at 7p so am very grateful to you for bringing it to my attention
Baza
banjomick
- 08 Nov 2005 17:03
- 149 of 1609
No prob.-are you staying for the 30p ?
bhunt1910
- 08 Nov 2005 17:04
- 150 of 1609
All the way now - but I will expect a few pullbacks along the way
baza
banjomick
- 08 Nov 2005 23:35
- 151 of 1609
Still so much i could say about this company on how bad it was and since january of this year,how good and forward thinking they are.The new management team has turned the company round.....2006 will be amazing-aimhooc
bhunt1910
- 09 Nov 2005 08:27
- 152 of 1609
Up another 17% already this morning - wow
Baza
waldowanquirthy
- 09 Nov 2005 13:57
- 153 of 1609
banjo, you seem to have this excellent thread all to yourself. Some very good postings. well done.
waldo
banjomick
- 09 Nov 2005 16:37
- 154 of 1609
Hello waldo,
Welcome to my humble abode,you will have to excuse my manners i'm not used to having guests popping in.
An exciting morning Baza,a taste of things to come me thinks!
banjomick
- 09 Nov 2005 16:38
- 155 of 1609
Greyhound
- 09 Nov 2005 16:49
- 156 of 1609
Watching this one closely too!
banjomick
- 09 Nov 2005 17:26
- 157 of 1609
3 guest's in one day....it's a record!
I still think 30p is easily achievable short term
banjomick
- 10 Nov 2005 00:13
- 158 of 1609
remember The Trap Door,simple but spot on:
http://www.trouble.co.uk/trapdoor/clips.html
banjomick
- 10 Nov 2005 00:17
- 159 of 1609
banjomick
- 10 Nov 2005 00:53
- 160 of 1609
All new visitor's,don't forget to call in to the Hoo Ha House...It's just one big party over there!
http://www.hoohahouse.com/
The Galleon own 100% of the licencing rights....
banjomick
- 10 Nov 2005 00:57
- 161 of 1609
They are also now,in a good position to produce products (ie croco) associated with the other two themes....couldn't think of the word,never mind!
banjomick
- 10 Nov 2005 01:02
- 162 of 1609
Immediate release: 18 July 2005
GALLEON HOLDINGS PLC
Galleon Announces Major Strategic Alliance with Imagination Holdings Ltd.
Galleon Holdings plc ('Galleon' or the 'Company'), the multi media company,
today announces that it has entered into a strategic alliance with Imagination
Holdings Ltd ('Imagination'), which is expected to bring extensive new media
content and market access to the Company. Imagination has successfully
developed content for both television, through its association with major
broadcasters, and also children's books. It is anticipated that Imagination and
Galleon will co-operate on the development and marketing of both the existing
portfolio of children's properties and on the development of new content
building on the successful platform which has been established by Imagination.
As outlined below, the strategic alliance consists of two aspects. Firstly, an
investment by Imagination of 402,326 of cash in the Company and, secondly, an
acquisition by the Company of HHH Limited ('HHH') from Imagination through the
issue of shares in Galleon.
Imagination, whose CEO is venture capitalist David Wong, has subscribed for 24%
of the enlarged issued share capital of ordinary shares (6,705,442 shares,
402,326 cash) at a price of 6p per share. Imagination is the holding company
for Imagineire (book publishing), Mystical Productions (television production)
and Lavish (interactive brand communications) and is the owner of a portfolio
of children's properties including the hugely successful girl's property
'Mysti' which has its own BBC TV show, a popular range of books and a monthly
magazine.
Pritesh Desai, a director of Imagination will join the Board of Galleon as a
non-executive Director. Mr Desai is a qualified chartered certified accountant
with wide experience in investment management and general corporate
administration.
Galleon has acquired HHH, a licensing and merchandising company. HHH has
exclusive worldwide licensing rights to the 'Hoo Ha House', a children's
animation property owned by Imagination. The initial book publishing programme
consists of 16 books over the next 18 months, the first of which will be at
retail in the UK during September 2005. A Hoo Ha House animated television
series is currently in its final development phase at Imagination and expected
to follow the launch of the books. The consideration is 1,396,967 new ordinary
shares at a price of 6p per share.
As a result of both transactions, Imagination will own 27% of the enlarged
share capital of the Company.
Commenting today James Driscoll MBE, Galleon's Chairman said 'This strategic
alliance with Imagination is a major development for Galleon. It provides
access to an extensive portfolio of new children's content and also provides
the Company with the additional finance to allow us to maximise the return to
shareholders.
We now have the expertise of building successful entertainment brands in key
categories and channels globally and the acquisition of HHH further
demonstrates our capability to be in control of the exploitation of our IPR.'
David Wong, CEO of Imagination said,' I am excited by this association with
Galleon. I believe that combining the content of Imagination and Galleon will
be a significant step forward in the development of a successful media business
with a broad portfolio of content in books, television, merchandising and
related areas.'
Subsequent to the closing of the Placing, the Company has applied for the new
ordinary shares, which will rank pari passu with existing ordinary shares, to
be admitted to trading on AIM, and expects that admission will occur on Friday
22 July 2005.
For further details please contact:
Jim Driscoll, Galleon Holdings plc - Tel: 01384 350 210
Ben Simons, Hansard Communications - Tel: 020 7245 1100
Notes:
Galleon Holdings PLC is an IPR owner and manager that specialises in all
aspects of IPR management including concept creation, development and
commercial exploitation; across multiple channels and categories, on a Global
basis.
Imagination Holdings Ltd is a multimedia holding company that owns and develops
intellectual property through subsidiary companies in the group. These are:
Imagineire Limited, a publishing company; Mystical Productions Limited, a
television and film production company; and Lavish Productions Limited, a
design, content development and marketing company.
Imagination's flagship property is the successful tweenage brand 'Mysti',
www.mysti.co.uk
. The Mysti Show, was broadcast for 21 consecutive weeks on BBC
1 and ranked the highest-rated TV show for girls 10-15. A second series has
been commissioned and will be broadcast in the autumn, making a total of over
30 hours of programming. Five books are at retail, with combined sales of over
120,000. A boys' property, 4 Aces, is a successful book series based around the
lives of a team of fictional professional footballers. Its website,
www.the4aces.com,
is a hit with the target demographic of 10-12 year old boys
with thousands regularly playing its free football management game.
banjomick
- 12 Nov 2005 01:34
- 163 of 1609
A little light relief!
http://happytreefriends.atomfilms.com/watch_episodes/images/ep_sm_limb.gif