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DreamWorks adds Disney veteran

US studio DreamWorks Animation has appointed a former Disney executive to its senior management team to help the feature-film specialist diversify into television and online content.

Mark Zoradi will become chief operating officer at DreamWorks with a remit to help the company expand its reach through new businesses and ventures.

Zoradi has worked in the content industry for more than 30 years, including stints as general manager at Buena Vista Television, president of Walt Disney Motion Picture Group and helping to launch The Disney Channel.

In related news, DreamWorks has also promoted Ann Daly, who had been chief operating officer since 2004, to president.

The changes are part of the firm’s plans to expand away from feature films that have included launching a new TV division and moving into the online space through the acquisition of Awesomeness TV and launching its own online channel.

Shows such as Turbo F.A.S.T, which is available on Netflix, also helped the company’s TV division to buck wider losses across the firm as it revealed its quarterly financial results on Tuesday.

The animation firm suffered a net loss of more than US$15m in the second quarter of the year, down from a $22.3m profit on the same period last year. However its TV division reported a $1.2m gross profit following the success of its shows.

The company also revealed it is being investigated by the US Securities and Exchange Commission over losses reported on feature film Turbo.

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