Shockwave buys AtomFilms

Online entertainment provider Shockwave has acquired AtomFilms and its library of more than 1,500 short features in what The Register calls "Southpark meets Wallace and Gromit." AtomFilms will get 30 percent of the merged company's new stock. Macromedia will therefore be pushed out of its position as majority stockholder in Shockwave. Both companies have struggled to live up to expectations concerning online entertainment, but they remain hopeful that the new year will be profitable.

For more, read zdnn.com and theregister.co.uk.