Atlas International and Medient Studios join hands
MEDIENT AND ATLAS JOIN HANDS TO CREATE NEW MINI MAJOR
EFFINGHAM, GA, July 30, 2013 (Marketwired via COMTEX) -- Medient Studios, Inc. (OTCQB: MDNT) (‘Medient’) today announced that it has signed a memorandum of understanding to acquire one hundred percent ownership of Germany based Atlas International Film GmbH (‘Atlas’).
In addition to Atlas’ expertise in worldwide entertainment licensing, its large client-base of US and International film distributors and content producers and its access to various investment groups and financing sources globally, the combined entity will benefit from the film production and post production infrastructure at the Medient Studioplex at Effingham.
"Atlas is a specialist in the exploitation of action, horror and related genres and is a wonderful strategic fit for Medient given our focus on these genres as the core output from the Studioplex" said Manu Kumaran, Chairman of Medient. “With Atlas by our side we can provide the opportunity to green light quality projects without having to raise external capital,” he added.
Philipp Menz, President of Atlas, commented “Having known Manu and the Medient team for some time now, it is truly extraordinary to have seen the Studioplex vision take massive steps to become reality. On behalf of my fellow owners and all the employees of Atlas, we are honored and excited to be part of such an industry-changing company.”
Kumaran added “We will continue to add strategic elements to our company to create a vertically integrated ‘insourced’ content creation company.”
The Company will unveil the movie production slate for 2014 shortly.
About Atlas International (www.atlasfilm.com)
Atlas international Film GmbH was founded in 1967 and is one of the oldest independents in the international film licensing business, with more than 46 years of experience under its belt. The portfolio of atlas represents more than 100 producers from all over the world, for which the company has signed over 12,000 license deals so far. With a team of seasoned industry executives, atlas international arranges production financing, provides worldwide sales, marketing- and distribution services and structures co-productions for theatrical and television product.
About Medient (www.medient.com)
Medient Studios, Inc. (OTCQB: MDNT) is an entertainment content creation company with a strong presence in North America, Europe and India. Medient's management team has approximately 150 years of experience in the motion picture industry and is responsible for producing and/or financing over 250 movies. Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and game production facility and campus on a 1550 acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
R. Jerry Falkner, CFA
RJ Falkner & Company, Inc
+1 (830) 693-4400