Paramount to launch animation division

Paramount Pictures has announced they will launch an in-house animation division and tap into the properties owned by Viacom – most specifically the Nickelodeon brand. The division, called Paramount Animation, will produce CGI animated films with budgets of up to $100 million.

“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 Paramount Chairman & CEO Brad Grey.

Paramount recently released Rango, the company’s first fully owned CGI film, created by Nickelodeon Movies with a budget of $135 million.