SOURCE: Medient Studios

October 29, 2012 09:00 ET

Medient Studios, Inc. Announces North American Distribution Deal for "STORAGE 24" With Magnet Releasing

HOLLYWOOD, CA--(Marketwire - Oct 29, 2012) - Medient Studios, Inc. (OTCQB: MDNT) today announced that Magnet Releasing has acquired the North American distribution rights to the Company's horror film "STORAGE 24," written by and starring Noel Clarke ("Dr. Who," "Star Trek 2") and co-produced with Clarke's London-based Unstoppable Entertainment 

Magnet Releasing is the genre arm of Magnolia Pictures (www.magpictures.com) and the theatrical and home entertainment distribution arm of the Wagner/Cuban Companies, a vertically-integrated group of media properties co-owned by Todd Wagner and Mark Cuban that includes the Landmark Theatres chain and the high-definition cable network HDNet.

The film will be released through the distributor's Ultra VOD program, debuting on all "video on demand" platforms on December 6, 2012, followed by a theatrical release in early January 2013.

"We are thrilled to be partnering with the Magnet team," commented Manu Kumaran, Chief Executive Officer of Medient Studios, Inc. "'STORAGE 24' has been well received in Europe and Asia, and we are confident that U.S. fans of the genre will greatly enjoy our version of a monster movie."

"'STORAGE 24' will be a real delight for monster movie fans," said Magnolia President Eamonn Bowles. "It delivers scares in spades."

Independent Film Company (www.independentfilmcompany.com) is the sales agent for "STORAGE 24," and its Andrew Orr stated, "We are delighted to be working with Magnet, as they have such a great reputation for quality genre films. "STORAGE 24" has sold round the world so we are delighted for Medient and Unstoppable that it will now be released in North America."

Noel Clarke added. "We couldn't ask for a more reputable company than Magnet to take the reins on "STORAGE 24." The goal at the beginning of this journey, when writing this movie, was to produce a project that would make headway internationally, and we are pleased this film has done that. US audiences are in for a treat."

About "STORAGE 24"
London is in chaos. A military cargo plane has crashed, leaving its highly classified contents strewn across the city. Completely unaware that London is in lockdown, Charlie and Shelley, accompanied by best friends Mark and Nikki, are at a 24-hour storage facility dividing up their possessions after a recent break-up. Suddenly, the power goes off. Trapped in a dark maze of endless corridors, a mystery predator is hunting them one by one. In a place designed to keep things in, how do you get out?

Official "STORAGE 24" Facebook Page: www.facebook.com/storage24film

About Magnet Releasing

Magnet is the genre arm of Magnolia Pictures, specializing in films from the vanguard of horror, action, comedy and Asian cinema, and the home of such genre classics as Tomas Alfredson's "Let the Right One In," Takeshi Miike's "13 Assassins," Christopher Smith's "Black Death," Ti West's "The House of the Devil," Andre Ovredal's "Trollhunter," Gareth Edward's "Monsters," Neil Marshall's sword and sandals bloodbath "Centurion," and Tony Jaa's "Ong Bak" trilogy, to name a few. Recent releases include Michael Dowse's hockey comedy "Goon," "Tim & Eric's Billion Dollar Movie," Panos Cosmatos' psychedelic head trip "Beyond the Black Rainbow," and Ti West's "The Innkeepers." Upcoming releases include Don Coscarelli's "John Dies at the End," Adrian Bogliano's "Here Comes the Devil," horror anthologies "V/H/S" and "The ABCs of Death, Universal Soldier: Day of Reckoning" with Jean Claude Van-Damme and Dolph Lundgren and many more.

About Medient Studios, Inc.

Medient is a global film production and distribution company with a strong presence in the key markets of North America and India. Medient's management team has approximately 150 years of experience in the motion picture industry and is responsible for producing or financing in excess of 250 movies. To date, some 14 movies, two music acts and several hundred live performance shows have been produced under the Medient banner. The Company is in the process of significantly scaling up its operations, including its planned entry into the lucrative and rapidly growing electronic games sector.

About Independent

INDEPENDENT specializes in the development, financing, production and distribution of independent feature films. Led by CEO Luc Roeg, who has over twenty years' experience in the film business, INDEPENDENT has a team of highly motivated and experienced professionals with expertise in project development, production, structured finance, sales and marketing. INDEPENDENT has also recently established a UK Distribution arm.

INDEPENDENT most recently produced the Tolstoy-based film "BOXING DAY," which had its World Premiere at Venice this year, and the critically acclaimed adaptation of Lionel Shriver's novel "WE NEED TO TALK ABOUT KEVIN," directed by Lynne Ramsay and starring Tilda Swinton and John C. Reilly. The film had its world premiere in competition at the Cannes International Film Festival and won the Best British Film Award at the London Critic's Circle.

In addition to developing, producing and distributing its own content, INDEPENDENT also acquires third party rights to manage through its sales and distribution divisions. The company has an excellent network of buyers all over the world and attends all relevant markets throughout the year showcasing highly acclaimed films.

INDEPENDENT's distribution division specializes in the acquisition and distribution of content across all media channels in the UK (theatrical, TV, DVD, digital, etc.).

About Unstoppable Entertainment

Unstoppable is a London-based production company started by Noel Clarke five years ago. Juggling his acting and writing and with only a small team, Clarke and Unstoppable have produced three films in this time -- "4.3.2.1" (starring Emma Roberts), "STORAGE 24" and "The Knot" (starring Mena Suvari). Unstoppable's short-term goal is to continue producing commercial and entertaining indie movies with international appeal.

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, and domestic and global economic conditions.

Contact Information

  • For more Information, please contact:

    R. Jerry Falkner, CFA
    President
    RJ FALKNER & COMPANY, INC.
    800-377-9893
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