Verde Media Group Inc. Signs LOI to Acquire Library of Films From Astrablu Media Inc.
July 19 2011 - 8:15AM
Business Wire
Verde Media Group Inc. (OTC: VMGI), has signed a letter of
intent to acquire a catalog of Films from Astrablu Media Inc.
(www.astrablu.com). Astrablu Media Inc. is a film and television
production company that develops, produces, and distributes films
and television programming nationally and internationally.
The library of films includes ten films previously owned by the
estate of Just Betzer, the award-winning producer from Denmark.
Within the catalog, Babette’s Feast is the flagship property.
Babette’s Feast won the Academy Award for Best Foreign Film and
numerous prestigious awards worldwide and continues to stay in
constant demand.
Verde Media is negotiating the terms of a long-term employment
contract with Mr. Josi Konski, to join the Board of Verde and head
the Production and Distribution Division of Verde Media Groups
business. Mr. Konski is a well-respected professional with an
extensive track record in the film industry, having made Motion
Pictures for and had films distributed by Lions Gate, Columbia,
Paramount, Sony, and Universal, as well as numerous independent
companies. As a long standing member of the Directors Guild of
America, Mr. Konski has either Produced, Written or Directed over
60 feature length Motion Pictures.
(www.imdb.com/name/nm0465340)
William Veve, President of Verde Media Group Inc. stated, "This
acquisition represents the first addition to the Verde Catalog of
Films and the additional human resources are very important for the
companies growth. The Catalog of Films will add an average of
$300,000.00 in annual revenue to our companies operation. The
addition of Mr. Konski to the Verde team will add the human
resource element necessary to expand our Film and Television
business and ensure that we produce the highest quality projects
possible. We are on schedule to conclude all of the negotiations
and additional elements necessary to close this transaction
swiftly.”
DISCLAIMER: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING
STATEMENTS
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995.
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