RichCrest Animation Changes Name, Expands Operations

LOS ANGELES, February 14: RichCrest Animation, the
U.S.-based production arm of the Indian CGI animation outfit Crest Animation
Studios, is changing its name and expanding its business to become a
full-service animation studio specializing in the development and production of
CGI-animated properties for theatrical, television, home entertainment and
interactive distribution.

In line with the name change to Crest Animation Productions,
the company has tapped Noah Fogelson, formerly executive VP and general manager
of DIC Entertainment, as its CEO. He is charged with spearheading the
expansion, using a financial injection from the investment firm D. E. Shaw
Group. The funds will be used to develop and produce intellectual properties
for worldwide distribution across theatrical, home entertainment, television
and online media.

“Our studio facilities in India enable us to produce the
highest quality CGI-animated projects at a fraction of the cost of most major
studio CGI features to date,” said Fogelson. “Couple this with the substantial
commitment from the D. E. Shaw group to finance a slate of new properties, and
we are now in a position to work with partners to create a catalog of
innovative intellectual properties for the global entertainment marketplace.”

Crest Animation Productions was launched as Rich Animation
in 1986 and subsequently acquired by Crest, which in India has been working
with clients such as Classic Media, Marathon and Mike Young Productions.