GoodTimes Entertainment
{{Short description|Defunct American home video company (1984–2009)}}
{{Distinguish|Goodtimes Enterprises}}
{{Infobox company
| name = GT Media, Inc.
| former_names = {{ubl|GoodTimes Home Video Corp. (1984–1993)|GoodTimes Entertainment Ltd. (1993–2003)|GT Brands Holdings LLC (2003–2005)}}
| type = Subsidiary
| logo =
| caption =
| fate = Folded into Gaia, Inc.
| successor =
| foundation = {{Start date and age|1984}}
| defunct = {{End date and age|2009}}
| location = Midtown Manhattan, New York City
| industry = Home video company
| key_people = {{ubl|Kenneth Cayre|Joseph Cayre|Stanley Cayre}}
| products = {{ubl|Public domain works and anime|Fitness videos}}
| num_employees =
| parent = {{ubl|Quadrangle Capital Partners (2003–2005)|Gaiam (2005–2009)}}
| subsid =
}}
GT Media, Inc. was an American home video company that originated in 1984 under the name of GoodTimes Home Video. Though it produced its own titles, the company was well known due to its distribution of media from third parties and classics. The founders for the company were the brothers Kenneth, Joseph and Stanley Cayre (often referred to and credited simply as the "Cayre Brothers") of Salsoul Records. Its headquarters were in Midtown Manhattan, New York City. The company had a distribution facility in Jersey City, New Jersey and a duplication facility in Bayonne, New Jersey, known as GTK Duplicating Co..{{cite web|url=https://www.goodtimes.com/info.asp|archive-url=https://web.archive.org/web/20000617222956/http://www.goodtimes.com/info.asp|title=Company Information|website=GoodTimes Entertainment|archive-date=June 17, 2000|access-date=March 15, 2010}}
Following the bankruptcy, GoodTimes' parent company was sold to Yoga-focused content company Gaiam in September 2005.
History
GoodTimes began with the distribution of copies of public domain titles. Though the company also produced and distributed many low-priced fitness videos such as the 29 Minute Workout video series, its most recognized line of products were the series of low-budget traditionally animated films from companies such as Jetlag Productions, Golden Films, and Blye Migicovsky Productions, as well as a selection of the works of Burbank Films Australia. Many of its home-video titles—such as Aladdin, Beauty and the Beast, Pinocchio, Sinbad, The Little Mermaid, The Three Musketeers and Thumbelina—were named similarly or identically to big-budget animated films from Disney and other major studios{{cite web|url=https://www.cartoonbrew.com/dvd/animated-mockbusters-list-94032.html|title=The Ultimate Guide to Animated Mockbusters|last=Edwards|first=C.|work=Cartoon Brew|date=January 8, 2014|access-date=January 12, 2016|archive-date=March 15, 2017|archive-url=https://web.archive.org/web/20170315224606/http://www.cartoonbrew.com/dvd/animated-mockbusters-list-94032.html|url-status=live}} (though their plots were sometimes very different), and GoodTimes would often release these films close to the theatrical and/or home video releases of the major film studios.
This was largely legal, as the stories of the big-budget films were based on fairy tales and classic literature that had long been in the public domain, and the major studios had little room to claim exclusive rights to the stories or the main characters. The Walt Disney Company sued GoodTimes in 1993, because the videotape packaging closely resembled Disney's, allegedly creating the potential of confusing consumers into unintentionally purchasing a GoodTimes title, when they instead meant to purchase a film from Disney.{{Cite news|url=https://www.nytimes.com/1993/09/10/arts/home-video-218293.html|title=Home Video|last=Nichols|first=Peter M.|date=September 10, 1993|work=The New York Times|access-date=November 4, 2017|language=en-US|issn=0362-4331|archive-date=July 2, 2020|archive-url=https://web.archive.org/web/20200702182610/https://www.nytimes.com/1993/09/10/arts/home-video-218293.html|url-status=live}}
As a result of this lawsuit, GoodTimes was required by law to print its name atop all of its future VHS covers, in order to clearly demonstrate to the public at large that this was not the "blockbuster" title that they would be purchasing. Despite these changes, however, GoodTimes continued to produce animated films based on public domain works.{{cite news | first = Peter | last = Nichols | title = Disney loses suit over Good Times' 'Aladdin' video | date = September 17, 1993 | publisher = Bangor Publishing Company | url = https://news.google.com/newspapers?nid=2457&dat=19930917&id=gp4zAAAAIBAJ&sjid=7TgHAAAAIBAJ&pg=5601,987719 | work = Bangor Daily News | access-date = December 3, 2013 | archive-date = July 4, 2020 | archive-url = https://web.archive.org/web/20200704034415/https://news.google.com/newspapers?nid=2457&dat=19930917&id=gp4zAAAAIBAJ&sjid=7TgHAAAAIBAJ&pg=5601,987719 | url-status = live}}
At the Summer CES 1985, GoodTimes launched a home video label Kids Klassics Home Video, which was specifically designed for a children's audience.{{Cite magazine|date=June 8, 1985|title=Heavy accent on video, CD, hardware at Summer CES|page=96|magazine=Billboard|url=https://worldradiohistory.com/hd2/IDX-Business/Music/Billboard-Index/IDX/1985/1985-06-08-Billboard-Page-0096.pdf|access-date=December 27, 2021|archive-date=December 27, 2021|archive-url=https://web.archive.org/web/20211227002640/https://worldradiohistory.com/hd2/IDX-Business/Music/Billboard-Index/IDX/1985/1985-06-08-Billboard-Page-0096.pdf|url-status=live}} The first Kids Klassics videos were 52 different cartoons, which were all meant to be in color and received a 50-50 joint venture with Remco to market the Mel-O-Toons cartoons by Storer Broadcasting.{{Cite magazine|date=August 17, 1985|title=Firms toy with children's market|page=27|magazine=Billboard|url=https://worldradiohistory.com/hd2/IDX-Business/Music/Billboard-Index/IDX/1985/1985-08-17-Billboard-Page-0027.pdf|access-date=December 27, 2021}} The company made its first licensed client in 1986, by signing a deal with Worldvision Home Video to reissue titles on VHS, through the Kids Klassics label, which were mostly Hanna-Barbera cartoons.{{Cite magazine|last=Bessman|first=Jim|date=May 3, 1986|title=Kids Klassics To Market Titles for Worldvision|page=53|magazine=Billboard|url=https://worldradiohistory.com/hd2/IDX-Business/Music/Billboard-Index/IDX/1986/1986-05-03-Billboard-Page-0053.pdf|access-date=December 27, 2021}}
This was followed in 1987 by signing a deal with major video distributor MCA Home Video to license these titles to VHS, mainly the Universal Pictures catalog for a price of $15.{{Cite magazine|last=Stewart|first=Al|date=June 20, 1987|title=Lorimar Drops KLV-TV Promotion|page=71|magazine=Billboard|url=https://worldradiohistory.com/hd2/IDX-Business/Music/Billboard-Index/IDX/1987/1987-06-20-Billboard-Page-0071.pdf|access-date=December 27, 2021|archive-date=December 27, 2021|archive-url=https://web.archive.org/web/20211227005529/https://worldradiohistory.com/hd2/IDX-Business/Music/Billboard-Index/IDX/1987/1987-06-20-Billboard-Page-0071.pdf|url-status=live}} That year, Goodtimes and Kids Klassics merged their distribution arms to form Goodtimes/Kids Klassics Distribution Corp.{{Cite news |date=July 22, 1987 |title=Goodtimes In A Merger With Kids Klassics; Will Keep Low Price Policy |page=47 |work=Variety}} In the 1990s they expanded the company into GT Publishing, a division of the company that published children's books under the Inchworm Press imprint.{{Cite web|url=https://www.publishersweekly.com/pw/print/19990208/33608-klusaritz-quits-gt-publishing.html|title=Klusaritz Quits GT Publishing|access-date=July 12, 2017|archive-date=July 2, 2020|archive-url=https://web.archive.org/web/20200702183000/https://www.publishersweekly.com/pw/print/19990208/33608-klusaritz-quits-gt-publishing.html|url-status=live}}
Expanding from home video distribution, GoodTimes founded its spin-off, GT Interactive as a way to distribute computer and video games.{{Cite web|url=https://www.fundinguniverse.com/company-histories/goodtimes-entertainment-ltd-history/|title=History of GoodTimes Entertainment Ltd. – FundingUniverse|website=www.fundinguniverse.com|language=en|access-date=November 4, 2017|archive-date=November 7, 2017|archive-url=https://web.archive.org/web/20171107011853/http://www.fundinguniverse.com/company-histories/goodtimes-entertainment-ltd-history/|url-status=live}} This company was sold to the French game publisher Infogrames in 1999. At different times, GoodTimes contracted with Columbia Pictures, NBC, HBO, Worldvision Enterprises, Hanna-Barbera, Orion Home Video,{{Cite book|url=https://www.americanradiohistory.com/Archive-Billboard/90s/1993/BB-1993-06-05.pdf|title=30 Orion Pics to GoodTimes|publisher=Billboard|date=June 5, 1993|pages=102}} Universal Pictures and Paramount Pictures to release inexpensive tapes of many of their films and TV series. In addition, GoodTimes released several compilations assembled from public domain films, film trailers, earlier television programs and newsreels. Most of these were credited to Film Shows, Inc.
In February 2003,{{cite news|last1=Peers|first1=Martin|title=Quadrangle Buys GoodTimes|url=https://proquest.com/docview/398801708|access-date=May 3, 2023|work=The Wall Street Journal|date=February 10, 2003|page=B4|url-access=registration|via=ProQuest|archive-date=May 3, 2023|archive-url=https://web.archive.org/web/20230503100010/https://www.proquest.com/docview/398801708|url-status=live}} Quadrangle Capital Partners purchased GoodTimes Entertainment for $90 million plus $160 million in debt,{{cite news|url=https://multichannelmerchant.com/news/Gaiam_acquisition_0713/|archive-url=https://web.archive.org/web/20100926172731/http://multichannelmerchant.com/news/Gaiam_acquisition_0713/|last=Del Franco|first=Mark|title=Gaiam Buys Bankrupt Entertainment Firm|date=July 13, 2005|archive-date=September 26, 2010|accessdate=May 3, 2023|work=Multichannel Merchant|publisher=Penton Media}} and rebranded the company as GT Brands.
=Bankruptcy and sale to Gaiam=
In July 2005, GT Brands Holdings filed for Chapter 11 Bankruptcy protection.{{cite web | url=https://www.bankruptcompanynews.com/oak-point-partners-llc-acquires-remnant-assets-of-the-gt-brands-holdings-llc-et-al-bankruptcy-estates/ | title=Oak Point Partners, LLC acquires remnant assets of the GT Brands Holdings LLC, et al., Bankruptcy Estates | date=November 2021 | access-date=March 22, 2023 | archive-date=March 22, 2023 | archive-url=https://web.archive.org/web/20230322154402/https://www.bankruptcompanynews.com/oak-point-partners-llc-acquires-remnant-assets-of-the-gt-brands-holdings-llc-et-al-bankruptcy-estates/ | url-status=live}} Gaiam subsequently acquired all of GoodTimes' assets for $40 million.{{cite web | url=https://variety.com/2005/digital/features/gaiam-grabs-goodtimes-1117925751/ | title=Gaiam grabs Goodtimes | date=July 12, 2005 | access-date=March 22, 2023 | archive-date=March 22, 2023 | archive-url=https://web.archive.org/web/20230322154401/https://variety.com/2005/digital/features/gaiam-grabs-goodtimes-1117925751/ | url-status=live}} The deal was closed that September{{cite news|url=https://www.bizjournals.com/denver/stories/2005/09/12/daily27.html|title=Gaiam closes GoodTimes Entertainment deal at $35M|work=Denver Business Journal|publisher=bizjournals.com|date=January 13, 2014|archive-url=https://web.archive.org/web/20140113100138/http://www.bizjournals.com/denver/stories/2005/09/12/daily27.html|archive-date=January 13, 2014}} and GT Brands Holdings LLC was renamed as GT Media, Inc.,[https://web.archive.org/web/20060522190131/http://www.goodtimes.com/GT/corporate/pdf/press/GTE_Gaiam.pdf Gaiam to Acquire Assets of GoodTimes Entertainment] becoming Gaiam's general-interest label that released films and animation from DIC Entertainment and mockbusters from The Asylum.
By the end of the 2000s, the GT Media brand was no longer used by Gaiam, with the company solely distributing fitness and yoga media under the latter label. In April 2012, the company acquired and merged with Vivendi Entertainment, renaming the combined subsidiary Gaiam Vivendi Entertainment.{{cite news|archive-url=https://web.archive.org/web/20120505104455/http://www.marketwatch.com/story/gaiam-completes-acquisition-of-vivendi-entertainment-creating-gaiam-vivendi-entertainment-the-nations-largest-independent-content-distributor-2012-04-03|work=MarketWatch|url=https://www.marketwatch.com/story/gaiam-completes-acquisition-of-vivendi-entertainment-creating-gaiam-vivendi-entertainment-the-nations-largest-independent-content-distributor-2012-04-03|archive-date=May 5, 2012|title=Gaiam completes acquisition of Vivendi Entertainment, the nation's largest independent content distributor|date=April 3, 2012}} In October 2013, Cinedigm purchased Gaiam Vivendi Entertainment for $51.5 million; after this Gaiam had exited the home video industry, with the subsidiary merging with Cinedigm's New Video to form a standalone distributor under the Cinedigm name.{{Cite web |url=http://www.newvideo.com/pressroom/release/cinedigm-to-acquire-gaiam-inc-s-entertainment-unit-a-multi-platform-content-licensor-and-distributor/ |title=Cinedigm To Acquire Gaiam, Inc.'s Entertainment Unit, A Multi-Platform Content Licensor And Distributor |access-date=October 20, 2013 |archive-date=October 31, 2013 |archive-url=https://web.archive.org/web/20131031064605/http://www.newvideo.com/pressroom/release/cinedigm-to-acquire-gaiam-inc-s-entertainment-unit-a-multi-platform-content-licensor-and-distributor/ |url-status=dead}}{{Cite web|last=McNary|first=Dave|date=October 17, 2021|title=Cinedigm Bulks Up With $51.1 Million Acquisition of Gaiam Vivendi|url=https://variety.com/2013/film/news/cinedigm-bulks-up-with-51-1-million-acquisition-of-gaiam-vivendi-1200735288/|access-date=July 13, 2021|website=Variety|language=en-US|archive-date=July 13, 2021|archive-url=https://web.archive.org/web/20210713182641/https://variety.com/2013/film/news/cinedigm-bulks-up-with-51-1-million-acquisition-of-gaiam-vivendi-1200735288/|url-status=live}}
Library
Prior to the company's bankruptcy, GoodTimes Entertainment produced at that time a TV series called Wulin Warriors. The series was an edited version of Pili, produced by Broadway Video and Animation Collective for Cartoon Network's Toonami block in 2006.
The company also produced the children's musical live action video series Treehouse Trolls Birthday Day and Treehouse Trolls Fun and Wonder (1992), the latter being remembered as Rachael Harris's first contribution to the film industry.{{Cite web |title=How old was Rachael Harris in her first movie: The Treehouse Trolls: The Forest of Fun and Wonder (1992)? |url=https://inthatmovie.com/46074-771038/rachael-harris/the-treehouse-trolls-the-forest-of-fun-and-wonder |access-date=December 10, 2023|website=In That Movie |language=en}}
{{Portal|New York City|Companies}}
References
{{Reflist}}
External links
- [https://web.archive.org/web/*/http://www.goodtimes.com GoodTimes Entertainment] (archive)
- [https://www.fundinguniverse.com/company-histories/goodtimes-entertainment-ltd-history Company history] {{Webarchive|url=https://web.archive.org/web/20181226015510/http://www.fundinguniverse.com/company-histories/goodtimes-entertainment-ltd-history/|date=December 26, 2018}} at FundingUniverse
{{Goodtimes}}
{{Authority control}}
{{DEFAULTSORT:Goodtimes Entertainment}}
Category:1984 establishments in New York (state)
Category:2005 disestablishments in New York (state)
Category:American companies established in 1984
Category:American companies disestablished in 2009
Category:Home video companies of the United States
Category:Home video distributors
Category:Companies that filed for Chapter 11 bankruptcy in 2005
Category:Defunct companies based in New York City
Category:Entertainment companies established in 1984