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  Sony Launches New Animation Unit
Time: 05:32 EST/10:32 GMT | News Source: Associated Press | Posted By: Alex Harris

Hoping to cash in on such blockbusters as "Monsters, Inc." and "Shrek," Sony Pictures Entertainment has launched its own animation unit to develop computer-generated feature films. Penney Finkelman Cox and Sandra Rabins, who started Dreamworks SKG's animation department, have been hired to head the unit, studio officials said. Yair Landau, president of Sony Pictures Digital Entertainment, called the new division a "big step forward."

"Tokyo really loves the idea of us creating original characters digitally," he said. "It's a fulfillment of what they believe the company can become." Sony Animation will have its own annual operating budget to cover development; its sister division, Columbia Pictures, will finance the productions and handle marketing and distribution. The unit will be required to develop at least one animated film every 18 months.

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