SOURCE: Peace Arch Entertainment Group Inc.

September 07, 2007 16:01 ET

Peace Arch Announces Election of Prominent Industry Executive, Jeffrey Sagansky, to Co-Chairman of Board of Directors

Former Top Executive at Paxson, CBS and Sony to Contribute to Company's Global Expansion

TORONTO, ON--(Marketwire - September 7, 2007) - Peace Arch Entertainment Group Inc. (AMEX: PAE) (TSX: PAE), an integrated global entertainment company creating critically acclaimed television, film and DVD content for worldwide distribution, today announced the election of prominent entertainment industry veteran Jeffrey Sagansky as Co-Chairman of the Board, effective September 1, 2007. The election of Mr. Sagansky, who will serve alongside Peace Arch's former Chairman, and now Co-Chairman, Drew Craig, will contribute significant financial and entertainment expertise, providing support in the execution of Peace Arch's high-growth business model.

Mr. Sagansky joins Peace Arch with a highly successful career in entertainment and media. He has held such prominent industry positions as Chief Executive Officer of CBS Entertainment, Co-President of Sony Pictures Entertainment, President of TriStar Pictures, Senior Vice President of Programming at NBC and CEO of Paxson Communications.

In 2005, Mr. Sagansky, Mr. Craig and Kerry McCluggage made a significant investment in Peace Arch and became large individual shareholders in the Company. Since that milestone, Mr. Sagansky has worked with the board and management of the Company, lending significant additional expertise to the development and execution of the Company's strategic plan. Mr. Sagansky now joins the board during one of the most active periods of growth in the Company's history, following the ten-fold increase in market value the Company has seen since his group's investment.

"Peace Arch represents one of the fastest growing public companies in the entertainment business," said Mr. Sagansky. "It is my privilege to work alongside Peace Arch's senior management and board as the Company continues to progress toward a position of a fully integrated production and distribution company. Peace Arch has the depth of management, capital and expertise to drive the production, acquisition, and distribution of world-class content creating considerable assets that can be leveraged for long-term growth and, ultimately, shareholder value."

"Jeff is among the most respected executives in the entertainment industry and has long been a supporter and believer in Peace Arch," said Gary Howsam, Chief Executive Officer of Peace Arch Entertainment. "His dynamism, combined with more than 30 successful years with senior positions in both the television and motion picture industries, make him a real force. His invaluable experience will make him a powerful voice on our Board of Directors. We look forward to his leadership during this period of growth at Peace Arch."

Peace Arch is a high-growth emerging leader in the global entertainment sector creating critically acclaimed television, film and DVD content for worldwide distribution. The Company's business model incorporates advanced financial strategies which mitigate risk while leveraging revenue and earnings growth. Peace Arch possesses unique, proprietary and commercial content assets that position the Company for the ongoing generation of predictable and sustainable revenues through the proactive exploitation of the of the largest independent film libraries in the world.

Peace Arch Entertainment's current lineup of feature films and long-form television programming includes the Showtime Networks hit ten-part television event mini-series "The Tudors" starring Golden Globe® Award-winning actor Jonathan Rhys Meyers, which premiered to record audiences in the U.S. in April. Additional productions includes the powerful ensemble drama "Winged Creatures," now in post-production, starring Kate Beckinsale, Academy Award®-winners Forest Whitaker and Jennifer Hudson, Dakota Fanning, Guy Pearce and Jackie Earle Haley, and the film satire "The Deal" from the best-selling Peter Lefcourt novel, with a cast that includes Academy Award®-nominee William H. Macy, Meg Ryan, LL Cool J and Elliott Gould, currently in post-production. Other titles in Peace Arch's growing lineup include the award-winning comedy "Delirious" from director Tom DiCillo, starring Steve Buscemi, Michael Pitt, Alison Lohman, Gina Gershon and Elvis Costello, and "Chapter 27," a drama starring Jared Leto and Lindsay Lohan which, like "Delirious," had its world premiere at the 2007 Sundance Film Festival; and the romantic comedy "Watching the Detectives" starring Lucy Liu and Cillian Murphy, which world premiered at the 2007 Tribeca Film Festival.

About Peace Arch® Entertainment Group Inc.

Peace Arch Entertainment produces and acquires feature films, television and home entertainment content for distribution to worldwide markets. Peace Arch owns one of the largest libraries of top quality independent feature films in the world, featuring more than 500 classic and contemporary titles. Through its subsidiary, Peace Arch Home Entertainment, Peace Arch is also one of the leading distributors of DVDs and related products in Canada. For additional information, please visit www.peacearch.com. Peace Arch recently acquired Dufferin Gate Productions, one of Toronto's foremost providers of production services and facilities, and Trinity Home Entertainment, a leading distributor of independent feature films in the United States.

For more investor-oriented information about Peace Arch Entertainment, visit http://www.trilogy-capital.com/tcp/peace-arch/. For current stock price quotes and news, visit http://www.trilogy-capital.com/tcp/peace-arch/quote.html. To view an Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/peace-arch/factsheet.html. To read a transcript of a recent Peace Arch investor conference call or listen to an archived recording, please visit http://www.trilogy-capital.com/tcp/peace-arch/conference.html.

FORWARD-LOOKING STATEMENT

This press release includes statements that may constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, availability of capital and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact Information

  • Contact:

    Roy Bodner
    Vice President Public Relations
    Peace Arch Entertainment
    (310) 776-7208
    Email Contact: Email Contact

    Financial Communications
    Trilogy Capital Partners
    Ryon Harms
    (800) 592-6067
    Email Contact: Email Contact