Toonz, Universal Studios in movie distribution pact

The movie is slated for Halloween 2008 release and has been made with a budget of $3.6 million, solely funded by Toonz Animation.

The animated feature film, titled Mostly Ghostly, is based on the first in the popular eight-book Mostly Ghostly series by the best-selling children's author R L Stine.

According to a Toonz executive, the film chronicles the eerie adventures of an 11-year-old outcast Max as he protects two sibling ghosts, Nicky and Tara, from the demon Phears.

Directed by Hannah Montana, Mostly Ghostly has Rich Correll as its co-creator and is produced by Yvonne Bernard, Arthur Cohen and Steve Stabler. Emmy Award nominee Pat Proft, whose credits include Scary Movie 3, Scary Movie 4 and The Naked Gun series, has written the screenplay.

Confirming the deal, P Jayakumar, CEO, Toonz Animation, said the company is ecstatic about the deal.

"The deal would complement our efforts to deliver innovative entertainment experience to audiences across the globe. We are hopeful that Mostly Ghostly will be well received by children and adults alike," he said.

The film features a cast including Madison Pettis, Luke Benward, Maiara Walsh, Ali Lohan, Brian Stepanek, Kim Rhodes and Noah Cyrus.

Mostly Ghostly, which is expected to be applauded by kids all over, has been rolled out of a state-of-the-art studio in Thiruvananthapuram Technopark.