Paramount Pictures to launch animation arm

First title slated for release in 2014; budgets per picture to go up to $100m.
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Paramount Pictures is adding an in-house animation division, aiming to develop a broad range of family CGI films.

Key to the division will be titles under the Viacom Nickelodeon label. In addition, Paramount will also look to build on Viacom's global consumer products business, capitalising on merchandising opportunities for all its Animation releases.

The first title is being slated for release in 2014.

"Our team has worked hard to build best in class production, marketing and distribution divisions which have proven they consistently execute at the highest level across all genres and price points," said Brad Grey, Paramount chairman and CEO. "Establishing an in-house animation division was the logical next step for us."

Paramount's first fully owned CGI animated property was Rango, which launched in March this year and grossed over $240 million worldwide.


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