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BUSINESS
February 23, 1994 | From Times Staff and Wire Reports
Iwerks to Acquire Omni Films: The company said it signed a definitive agreement to acquire Omni Films International Inc. for about $34 million in cash and shares. "The acquisition of Omni Films establishes Iwerks' Attractions and Technologies Division as the single dominant company in the high-growth ride simulation industry," said Stanley B. Kinsey, Iwerks Entertainment Inc. chairman and chief executive, in a news release.
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BUSINESS
January 31, 1995
Iwerks Entertainment Inc., a Burbank supplier of special-format movie theaters and virtual-reality attractions, reported that its losses more than doubled in its fiscal second quarter. The company lost $1.15 million in the quarter ended Dec. 31, compared with a year-earlier loss of $416,335. Revenue in the quarter expanded to $10.7 million, up 19% from the $8.96 million in revenue in the second quarter of fiscal 1994.
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BUSINESS
May 14, 1993 | From Times Staff and Wire Reports
Showscan and Omni Films to Merge: Two of the small group of entertainment technology companies catering to the growing market for high-tech ride simulators and futuristic theaters announced plans to combine their operations. The merger will match Culver City-based Showscan Corp.'
BUSINESS
February 23, 1994 | From Times Staff and Wire Reports
Iwerks to Acquire Omni Films: The company said it signed a definitive agreement to acquire Omni Films International Inc. for about $34 million in cash and shares. "The acquisition of Omni Films establishes Iwerks' Attractions and Technologies Division as the single dominant company in the high-growth ride simulation industry," said Stanley B. Kinsey, Iwerks Entertainment Inc. chairman and chief executive, in a news release.
BUSINESS
January 31, 1995
Iwerks Entertainment Inc., a Burbank supplier of special-format movie theaters and virtual-reality attractions, reported that its losses more than doubled in its fiscal second quarter. The company lost $1.15 million in the quarter ended Dec. 31, compared with a year-earlier loss of $416,335. Revenue in the quarter expanded to $10.7 million, up 19% from the $8.96 million in revenue in the second quarter of fiscal 1994.
BUSINESS
April 11, 1995
Iwerks Entertainment Inc., a Burbank-based maker of specialty theaters and simulation rides, said it is consolidating its Sarasota, Fla., manufacturing facilities with an existing plant at the company's headquarters. G. Edward Smith, chief financial officer at Iwerks, said the 40 workers employed at the company's Florida facilities, where theater components were manufactured, will not be brought to Burbank.
BUSINESS
May 24, 1994
Iwerks Entertainment Inc., a Burbank producer of special-format movie theater systems and virtual reality attractions, said it has completed its $17-million acquisition of rival Omni Films International Inc. The deal called for Omni shareholders to receive $4.4 million in cash and about 1.49 million shares of newly issued Iwerks common stock, worth $13 million based on Iwerks' stock price when the deal closed on Thursday. Or, instead of the stock, Omni shareholders could receive $1.
BUSINESS
October 19, 1993
Ralph Simon has been named to the newly created position of executive vice president at Capitol Records. Simon will be the No. 2 man in the organization, overseeing all executive and operational functions. John Matoian, senior vice president of motion pictures for TV and miniseries at CBS, is reportedly in discussions with Fox to join the film studio in a newly created unit that would focus on producing family films.
BUSINESS
April 17, 1996 | BARRY STAVRO, TIMES STAFF WRITER
A board member who resigned this month from Iwerks Entertainment Inc., has sued the Burbank company and executives at the giant-screen theater and motion-simulator rides concern, alleging securities fraud dating back to its purchase of Omni Films International. The suit was filed last week in Sarasota, Fla., by Fred Hollingsworth III, who resigned from Iwerks' board two weeks ago. Iwerks' Chief Executive Roy A.
BUSINESS
May 14, 1993 | From Times Staff and Wire Reports
Showscan and Omni Films to Merge: Two of the small group of entertainment technology companies catering to the growing market for high-tech ride simulators and futuristic theaters announced plans to combine their operations. The merger will match Culver City-based Showscan Corp.'
BUSINESS
December 26, 1993 | PATRICE APODACA, TIMES STAFF WRITER
Iwerks Entertainment Inc. wants to take you on an underwater voyage, send you on a rollicking roller coaster ride and fly you through the Grand Canyon. * After that, you can shop and have a bite to eat. And you can do it all without leaving a building smaller than the typical department store. This is "location-based entertainment"--best described as a theme park in a box. And Burbank-based Iwerks is helping lead the charge in this new entertainment genre.
BUSINESS
September 14, 1993 | PATRICE APODACA, TIMES STAFF WRITER
Iwerks Entertainment Inc. has big plans to create the movie theater of the future. But for now it confines itself to more mundane matters--such as raising the cash to pay for those theaters of tomorrow. The Burbank company is planning to go public in an initial stock offering of 2 million shares at $11 apiece, which would net Iwerks about $20 million after expenses. Another 400,000 shares are being offered by stockholders.
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