Medient Completes Acquisition of Atlas international Film
January 28 2014 - 9:00AM
Marketwired
Medient Completes Acquisition of Atlas international Film
EFFINGHAM, GA--(Marketwired - Jan 28, 2014) - Medient Studios,
Inc. (OTCQB: MDNT) ('Medient') announced today that it has
completed the acquisition of Atlas international Film GmbH
('Atlas'). Based in Munich, Germany, Atlas is one of the oldest
independent film sales agents in Europe. The Memorandum of
Understanding for the all stock based deal was announced in July
2013.
Manu Kumaran, Chairman of Medient, commented, "Over the past 46
years, Atlas has built a solid reputation for sales and film
finance. We are particularly excited about the upcoming European
Film Market that accompanies the Berlinale Film Festival, where
Atlas will present our new slate of movies. Atlas also has a
library of over 250 titles, which will be aggressively sold at the
European Film Market."
Philipp Menz, President of Atlas, commented, "We are proud to be
part of a truly inspired team at Medient and this partnership will
add a critical component to the scaling up of the company into a
global player in the entertainment marketplace."
Mr. Kumaran added, "I want to underline the fact that Medient
continues to deliver on its promises, and this acquisition provides
elements essential to the creation of a vertically integrated
'insourced' content creation company. In a short period of time, we
have built a truly formidable enterprise with an impressive slate
of movies, a solid balance sheet, and strong governmental support.
Moreover, this transaction accelerates our growth."
About Atlas international
Atlas international Film GmbH (www.atlasfilm.com) 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 encompasses more than 100
producers from all over the world, for which the company has signed
over 12,000 license deals to date. With a team of seasoned industry
executives, Atlas arranges production financing, provides worldwide
sales, marketing- and distribution services and structures
co-productions for theatrical and television product.
About Medient Studios
Medient Studios, Inc. (OTCQB: MDNT) (www.medient.com) 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 electronic game production
facility as part of its Studioplex on a 1,550-acre property in
Effingham County, GA. 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.
Contact Investor Relations: David Waldman or Natalya Rudman
Crescendo Communications, LLC Tel: (212) 671-1020 x304 Email:
mdnt@crescendo-ir.com