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
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