Strong Global Entertainment,
Inc. (NYSE American: SGE) (“SGE” or the “Company”)
today announced the acquisition of
Unbounded Media
Corporation (“UMC”), an independent media and creative
production company. Founded by Peter Odiorne, Larry Swets and
Hassan Baqar, UMC develops, creates and produces film, advertising,
and branded content for a broad range of clients. UMC will operate
under SGE’s original content production and distribution arm
Strong Studios, Inc. (“Strong Studios”)
(Safehaven, Flagrant, Inside the Black Box).
In an all-stock transaction, the deal with UMC marks the first
acquisition in a broader strategy to acquire a portfolio of
multi-disciplined content and services companies. Larry
Swets will spearhead the acquisition strategy as Chairman
of the studio and production division. Peter
Odiorne will serve as Chief Content Officer, and
Matt Harton as Managing Director.
UMC, in partnership with Strong Studios, will also further
develop its original IP portfolio, under its Fieldhouse
Entertainment division, which currently includes feature films,
Into the Storm, Atomic Tourists and Footsteps of a Giant, employing
Strong Studios’ long form production expertise and industry
network. Additionally, the alliance offers Strong Studios the
potential to utilize UMC’s brand relationships to create
sponsorship opportunities to develop film and television
projects.
Mark Roberson, CEO of SGE stated: “Through this
strategic acquisition, Strong Studios, along with UMC, will be in a
position to expand UMC’s short form content services business
adding predictable revenue streams and creating a platform to
accelerate expansion of our production services capabilities.”
“UMC distinguishes itself by producing video content directly
for brands, offering efficient and cost-effective solutions. This
approach eliminates the inefficiencies present in the traditional,
segmented model of advertising agency creative, production and
post-production,” said Odiorne. “With this
acquisition, the first in our corporate strategy, UMC further
strengthens its position through collaborative integration with the
SGE family. Together, we will consistently deliver effective video
content for brands and their consumers.”
David Ozer, President of Strong Studios
commented: “Acquiring UMC allows Strong Studios to leverage the
skills and network of the existing businesses as well as to cross
pollinate. There is significant cross-over of creative skills in
the short form production business with long form film and
television projects that could significantly enhance our overall
profit potential. As we continue to build SGE and Strong Studios’
position in the global entertainment marketplace, we look forward
to expanding our production capabilities and our original IP
pipeline.”
About Strong Global Entertainment, Inc.Strong
Global Entertainment, Inc. is a leader in the entertainment
industry, providing mission critical products and services to
cinema exhibitors and entertainment venues for over 90 years. The
Company manufactures and distributes premium large format
projection screens, provides comprehensive managed services,
technical support and related products and services primarily to
cinema exhibitors, theme parks, educational institutions, and
similar venues. In addition to traditional projection screens, the
Company manufactures and distributes its Eclipse curvilinear
screens, which are specially designed for theme parks, immersive
exhibitions, as well as simulation applications. It also provides
maintenance, repair, installation, network support services and
other services to cinema operators, primarily in the United States.
The Company also owns Strong Studios, which develops and produces
original feature films and television series.
About Strong Studios, Inc.Strong Studios,
headquartered in New York, NY, is a subsidiary of SGE. Strong
Studios develops and produces original feature films and television
series, as well as acquires third party rights to content for
global multi-platform distribution. The studio launched in March
2022 with the production of the supernatural thriller series
“Safehaven.” Strong Studios is currently developing “Flagrant,”
with Michael Rapaport, “Shadows in the Vineyard,” a limited true
crime drama starring Judith Light and Noah Wyle, the drama series,
“Heartbeat,” co-created by legendary DJ couple Kiss and M.O.S. and
the feature film, “The Tank Job.”
About Unbounded Media CorporationUMC is a
growth phase media company which creates, curates and proliferates
in all forms and without boundaries. UMC creates continuous content
channels that meet the demand for video consumption for branded
clientele and their consumers. For more information, please visit
https://unboundedmedia.com.
About FG Group Holdings Inc. FG Group Holdings
Inc. (NYSE American: FGH) is a diversified holding company with
operations and investments across a broad range of industries. The
company has a majority ownership in SGE , which includes STRONG/MDI
Screen Systems (www.strongmdi.com), the leading premium screen and
projection coatings supplier in the world and Strong Technical
Services (www.strong-tech.com), which provides comprehensive
managed service offerings with 24/7/365 support nationwide to
ensure solution uptime and availability. FG Group Holdings also
holds equity stakes in GreenFirst Forest Products Inc., Firefly
Systems, Inc., and FG Financial Group, Inc., as well as real estate
through its Digital Ignition operating business.
About Fundamental
Global®Fundamental Global® is a private
partnership focused on long-term strategic holdings. Fundamental
Global® was co-founded by former T. Rowe Price, Point72 and Tiger
Cub portfolio manager Kyle Cerminara and former Chairman and CEO of
TD Ameritrade, Joe Moglia. Its current holdings include FG
Financial Group Inc., FG Group Holdings Inc., BK Technologies
Corp., GreenFirst Forest Products, Inc., iCoreConnect,
Inc., FG Acquisition Corp., OppFi Inc., Hagerty Inc., and FG
Communities, Inc. The FG® logo is a registered trademark of
Fundamental Global®.
Forward Looking StatementsThis press release
contains “forward-looking statements” that are subject to
substantial risks and uncertainties. All statements, other than
statements of historical fact, contained in this press release are
forward-looking statements. Forward-looking statements contained in
this press release may be identified by the use of words such as
“anticipate,” “believe,” “contemplate,” “could,” “estimate,”
“expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,”
“predict,” “project,” “target,” “aim,” “should,” “will,” “would,”
or the negative of these words or other similar expressions,
although not all forward-looking statements contain these words.
For example, this press release is using forward-looking statements
when it discusses the Strong Studios’ plan to begin discussions
with potential media partners. Forward-looking statements are based
on Strong Studios’ and the Company’s current expectations and are
subject to inherent uncertainties, risks and assumptions that are
difficult to predict. Further, certain forward-looking statements
are based on assumptions as to future events that may not prove to
be accurate. These and other risks and uncertainties are described
more fully in the section titled “Risk Factors” in the final
prospectus related to the initial public offering of the Company
filed with the SEC. Forward-looking statements contained in this
announcement are made as of this date, and Strong Studios and the
Company undertake no duty to update such information except as
required under applicable law.
Investor Relations Contact:Mark RobersonStrong
Global Entertainment, Inc. - Chief Executive Officer(704)
471-6784IR@strong-entertainment.com
John Nesbett/Jennifer BelodeauIMS Investor Relations(203)
972-9200sge@imsinvestorrelations.com
For Strong Studios Media Inquiries:Michelle
OrsiThree.Sixty Marketing + Communications(310)
418-6430michelle@360-comm.com
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