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American Ent. & Animation to Bankroll Uncle Mugsy
American Entertainment & Animation (AEAN) and Florida-based Words & Pictures Prods. plan to co-produce a CG animated feature film based on the book Uncle Mugsy and the Terrible Twins of Christmas, written by Eric Metaxas and illustrated by Tim Raglin. AEAN has signed a letter of intent to purchase full intellectual property rights to Uncle Mugsy from Words & Pictures.
The letter of intent provides that AEAN will arrange the financing for the animated feature, and that AEAN and Words & Pictures will benefit equally as co-executive producers. Subject to distribution and other fees, AEAN will receive 85% of the net revenues generated through licensing of the rights associated with film, broadcast, cable television, home video, publishing, merchandising and all other media related rights. AEAN intends to source the financing for the production through debt and equity financing.
“We are extremely pleased to announce this letter of intent with an American producer that will allow us to demonstrate our capability to produce high quality 3D animated full length feature films,” says AEAN president and CEO Marc Hazout. “Now that the Letter of Intent has been signed, we will be working towards finalizing a financing commitment followed by the production agreement with a prominent animation studio soon to be announced, and negotiating the best possible distribution agreement for the feature.”
Uncle Mugsy author Metaxas worked in creative development and as a writer for Big Idea Prods., creators of the VeggieTales 3D animated children’s franchise. Lyle the Kindly Viking, which Eric co-wrote, was named Best Direct-to-Home video production at the World Animation Conference. Eric has also authored many children’s books including The Bible ABC (Tommy Nelson) and the best-selling and Angel Award-winning Prince of Egypt A-Z, a tie-in to DreamWorks SKG’s animated feature film.