Trilogy Sells Stake to VIP ComLink13 Jun, 2002 By: Holly J. Wagner
VIP ComLink is buying 16 percent of movie masking software company Trilogy Studios, the companies report.
Salt Lake City-based Trilogy will get a cash infusion of undisclosed size and a one-for-one stock exchange.
VIP ComLink will become the largest shareholder in Trilogy Studios, owning 16 percent of the company. Trilogy cofounder and COO Breck Rice will take a seat on VIP ComLink's board of directors as a result of the deal.
"The agreement with VIP ComLink will allow us to move forward with our product development and overall business plan," Rice said. "The infusion of capital will permit us to accelerate production of our Movie Mask product and make it available to consumers in July."
The company makes Movie Mask, a program that lets users mask aspects of movie scenes they might find offensive. The oft-cited example is the ability to put undergarments on a nude figure to eliminate nudity from an otherwise child-friendly scene.
The product's launch has been delayed twice as Rice has sought funding and a nod from studios.
Critics say the service may step on copyrights, but Rice has been meeting with studio representatives – though he said the studios with which he's met have bound him to confidentiality at this stage.
Movie Mask also has the capability to overlay visual and auditory elements, such as special effects, 2D images, 3D models and enhanced 3D audio. Each of these processes is accomplished without copying or altering the original DVD source.
“We are very pleased with the acquisition agreement we have entered into with Trilogy Studios," said Ronald Hansen, president and CEO of VIP ComLink. "The agreement will position both companies to become the world-class leader in the development of software technology for the entertainment industry. The revenue potential for Trilogy Studios is truly stunning."