Pink Sheet Penny Stock News
Jul 28, 2008 9:00:00 AM
2008 PrimeNewswire, Inc.
BEVERLY HILLS, Calif., July 28, 2008 (PRIME NEWSWIRE) -- Propelled by more than 20 new film acquisitions and a $30-million dollar slate of original productions, Empire Film Group, Inc. (Pink Sheets:EFGU) (http://www.empirefilmgroup.com) is positioned to rapidly ascend as one of the top, independent studios in North America, said CEO Dean Hamilton-Bornstein. With the company's film library now topping 200 titles, and with nine films in development or production, Bornstein reports that Empire's line-up of releases for the next year rivals the volume of leading independents Lionsgate and The Weinstein Company.
"We have been building Empire rapidly and intelligently," said Bornstein. "Our business model balances the quick return available from acquiring completed, third-party titles, with the long-term value of producing and owning our own movies. As the major studios have moved more towards event-level releases, a market opportunity has opened for Empire for quality, commercial titles in a more modest release range. We are already delivering solid results with our growing DVD library, and expect similar successes from our theatrical titles and original productions," Bornstein concluded.
Empire's theatrical slate for 2008 includes "Hounddog," starring Dakota Fanning and Robin Wright-Penn, "Local Color," starring Armin Mueller-Stahl, Ron Perlman and Ray Liotta, and "Rocket Post" starring Kevin McKidd and Shauna MacDonald. The company's DVD line-up for the remainder of 2008 includes the Sidney Poitier drama, "The Last Brickmaker In America," an animated feature version of the Jules Verne classic "Journey to the Center of the Earth," and "The Superstars of Country Comedy" with Bill Engvall, Jeff Foxworthy and Larry the Cable Guy.
"It's an impressive slate that continues to grow in number and stature," said Eric Parkinson, CEO of Empire Home Entertainment, the distribution division for Empire. "Our theatrical line-up is first rate, and our DVD schedule is as diverse as it is commercial. The company is also encouraged by the retailer response to our new slate of book releases from our publishing activities, so we're exceeding our goals in all three product categories."
The current value of Empire's original production slate for 2008 and 2009 exceeds $30-million and consists of nine new productions including the action-adventure "Havana Heat," the sci-fi thriller "Shadow Vision" and the sports biography "Gotch: An American Hero." Most of the original productions will be distributed in North America by Empire, with international rights licensed to key production partners. Empire is vertically integrated with most film production activities, owning and operating motion picture trucks, cameras, lighting equipment, post-production editing and operating its own sound stage.