MUMBAI: US kids? broadcaster Nickelodeon has announced the first-ever global SpongeBob SquarePants-inspired short film competition, SpongeBob SquareShorts: Original Fan Tributes.

SpongeBob fans and filmmakers of all ages from around the world are invited to create SpongeBob-inspired short films for a chance to win a cash prize and trip for four people to a screening event in Hollywood, California.

The call for entries has opened and will run through 28 June. Entries can be submitted in two categories (under 18 years of age, and 18 and over) to www.SpongeBobSquareShorts.com.

Nickelodeon Group CMO Pam Kaufman said, "SpongeBob is a global icon and beloved by people of all ages. We?re excited to launch a competition that lets fans around the world create compelling short films that showcase the positivity and optimism that SpongeBob brings to audiences everywhere."

Films submitted to the SpongeBob SquareShorts: Original Fan Tributes competition should be themed around SpongeBob, his world and/or his friends, while celebrating his endearing attributes: humor, overflowing happiness and persistent positivity. The short films can be live-action, animation, stop-motion, etc. and should run no longer than three (3) minutes. Videos will be judged on originality & creativity, incorporation of SpongeBob?s attributes, and overall appeal.

Following the entry period, finalists will be selected by judges, and the top 10 in each of the two categories will be announced on 18 July as finalists. Till 2 August, fans will have the chance to vote for their favorite of the finalists. The winner from each category will be announced in August.

MUMBAI: Infotainment broadcaster Discovery has reported financial results for the first quarter ended 31 March 2013 which got a boost by the international networks. Revenues increased by seven per cent to $1.1 billion

Adjusted OIBDA decreased to $498 million (up eight per cent excluding licensing agreements and foreign currency). Net income increased by four per cent to $231 million

Discovery president and CEO David Zaslav said, "The significant operating momentum Discovery generated throughout 2012 continued unabated in the first quarter with more and more audiences around the globe viewing our unique programming.

"The sustained investment we have made in developing compelling content, along with the quality of our brands, translated into further market share gains, with record first quarter viewership at our domestic networks and 16 per cent audience growth across our international portfolio. As we continue to invest in the organic growth opportunities our diverse distribution platform provides, we have also completed several strategic acquisitions which we expect will further broaden our asset mix around the world and bolster our long-term growth prospects. 2013 is off to a great start and with continued focus on strong operating execution, we anticipate building on the financial success we have achieved over the last several years while delivering significant shareholder value."

First quarter revenues of $1.1 billion were up by $71 million, or seven per cent, compared to the first quarter a year ago, led by 17 per cent growth at International Networks and one per cent growth at US Networks which included the impact of additional licensing revenues in the prior year. OIBDA declined by two per cent to $498 million, as an eight per cent increase at International Networks was offset by a decrease of five per cent at US Networks due to the additional licensing revenue in last year?s quarter. Excluding the impact of licensing agreements and foreign currency, total company revenues increased by 12 per cent and adjusted OIBDA increased by eight per cent.

First quarter net income of $231 million increased by $10 million compared to $221 million for the first quarter a year ago, primarily due to the underlying operating performance in the current year?s quarter as well as a $92 million gain associated with the consolidation of Discovery Japan and $46 million of improved equity earnings, partially offset by higher taxes, increased mark-to-market equity-based compensation and $59 million of losses from hedging activities primarily associated with the acquisition of the SBS Nordic operations.

Free cash flow was $105 million for the first quarter, a decrease of $122 million from the first quarter of 2012, due to higher content investment as well as increased tax and long-term incentive compensation payments.