SOURCE: Peace Arch Entertainment Group Inc.

January 22, 2007 16:03 ET

Peace Arch Entertainment Announces Settlement of Lawsuit Against VH1, MTV and Viacom International

TORONTO -- (MARKET WIRE) -- January 22, 2007 -- Peace Arch Entertainment Group Inc. (AMEX: PAE) (TSX: PAE) today announced the settlement of a pending lawsuit that had been brought by Peace Arch against VH1, MTV Networks and Viacom International in British Columbia in October 2001, relating to the financing of the television series "Big Sound." The settlement agreement provides for the dismissal of all claims and incorporates a new U.S. distribution agreement. Financial terms were not disclosed.

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 is the owner of one of the largest libraries of top quality independent feature films in the world. 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.

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 Statements

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) 450-1711
    Email Contact

    Or

    Financial Communications
    Trilogy Capital Partners
    Paul Karon
    (800) 592-6067
    Email Contact