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Article: HBCO Acquires Studio II., Ltd., an Animation Film Producer Based in Budapest, Hungary
- Article from:
- PR Newswire
- Article date:
- March 17, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, March 17 /PRNewswire/ -- Hungarian Broadcasting Corp. (Nasdaq-Small Cap: HBCO) announced through its Chairman, Peter E. Klenner, that it had purchased 80% of Studio II., Ltd., an established animation studio based in Budapest. The remaining ownership is held by Studio II's employees. This Company, which was formerly owned by Mr. Klenner, was purchased at his cost plus a bank rate of interest.
Each of the three key employees of Studio II has approximately 30 years of successful animation experience with two of these employees having received an Academy Award Nomination for "Cat City" as best foreign language film.
The Company is ...