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Medient Completes Acquisition of Atlas international Film(January 28, 2014)
EFFINGHAM, GA -- (Marketwired) -- 01/28/14 -- 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
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