SOURCE: King Midas World Entertainment

King Midas World Entertainment

February 24, 2009 06:03 ET

Panorama Division Is Created By King Midas World to Finance the Production of Brand Specific Content in Media

LAS VEGAS, NV--(Marketwire - February 24, 2009) - King Midas World Entertainment today announced the initiation of Panorama, a new independent division to finance brand specific motion pictures, television and video games.

This development follows the July 2008 licensed film rights announcement for "The Seven Sins: The Tyrant Ascending" novel with producer Moritz Borman, executive producer Peter Graves and producer Fabrizio Boccardi, CEO of King Midas World Entertainment.

"The Seven Sins: The Tyrant Ascending" by Jon Land was published in Summer 2008 by Forge Books and selected "Best Thriller of the Year" by Library Journal. The Paperback edition will be released in June 2009.

King Midas World Panorama's scope is to initially participate in the financing of the first film of The Tyrant franchise, subject to the arrangement with the selected studio as well as several factors in relation to the package of the picture, and subsequently all other films, TV and video game content of The Tyrant franchise.

In addition, King Midas World Panorama will take part in financing new proprietary content owned by King Midas World Entertainment, as well as acquire new content and join in the financing of its development and production.

"King Midas World Panorama's objective will be to seal partnerships for the development, production and distribution of branded proprietary media content," said Randy Markin, President of King Midas World Entertainment.

The "Tyrant" production team led by preeminent producer Moritz Borman, widely recognized for his association with The Terminator franchise, is currently in the very active stages of development for the upcoming film, which will be adapted from "The Seven Sins: The Tyrant Ascending" novel. Ideally, the theater release of the film would coincide with the July 4th weekend in 2011.

"The 4th of July holiday period is a perfect opportunity to emphasize The Tyrant's character portrayed as the rakish and Machiavellian embodiment of the American dream," said Lisa Mayo-DeRiso, Vice President of Marketing of King Midas World Entertainment. "This is an option we would like to explore further with all parties involved in the production."

King Midas World Entertainment expects to engage an Investment Bank to advise Panorama in its capital structure, subject to certain negotiations with the selected studio.

King Midas World Panorama is projected to be operational in 2010. The Panorama strategy is intended to reinforce the theory that Tyrant is not only an entertainment franchise but also the beginning of a new series of branded concepts and products in media.

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