FT. LAUDERDALE, Fla., April 01, 2019 (GLOBE NEWSWIRE) -- The Movie Studio, Inc. (OTC:MVES) www.themoviestudio.com proudly announces a Strategic Partnership and Joint Venture with Wonderfilm Media Corporation (OTC:WDRFF TSXV: WNDR) www.wonderfilm.com to align the mutually beneficial assets and associations between the publicly traded Companies.
The performance covenants between the entities specifically focuses on “Above the Line” production and distribution services and associations from Wonderfilm in regard to The Movie Studio’s current intellectual properties as well as the additions of additional intellectual properties owned or controlled by Wonderfilm or its principals during the term of the agreement.
In addition, the agreement cumulates the Companies associations, relationships and branding between the entities while leveraging the strengths of the principal’s functions to facilitate the production, acquisitions branding and distribution of the Companies motion picture content on multiple platforms including domestic, foreign and video on demand (VOD) platforms.
Upon successful application of the Above the line services and owned and acquired intellectual properties the Strategic Partnership and Joint Venture accelerates development of the infrastructure of The Movie Studios owned intellectual properties and acquired intellectual properties from Wonderfilm and utilizes both Companies' unique and synergistic business models strengthening worldwide distribution pre-sale and negative pick-ups of the Co-Produced feature films.
The Strategic Partnership and Joint Venture between the Companies performance covenants(s) augments and combines substantial talent associations between the entities and combines substantial production value for application to principal photography of the motion pictures while significant reducing duplicitous capital expenditures (CAP-X).
“We are extremely excited about the alliance with Wonderfilm, its principals, assets and alignment that synchronize perfectly with our motion picture disruptive ideology that could translate to substantial accelerated value of jointly developed motion picture intellectual properties and acquisition targets while retaining greater shareholder equity and potential substantial residual value,” Gordon Scott Venters announced today.
"The Movie Studio is an exciting venture that broadens Wonderfilm's feature film IP and adds significantly to the Company's main film production business,” said Kirk Shaw, CEO of Wonderfilm Media. “In addition to talented people, The Movie Studio has great projects in development that we look forward to merging with Wonderfilm's expertise and production slate. This exciting partnership brings new opportunities for both companies to broaden films and series production which we expect to further expand revenue and shareholder returns."
ABOUT WONDERFILM MEDIA
Wonderfilm is a leading publicly traded (TSX Venture Exchange) entertainment company with production offices in Los Angeles, corporate offices in Vancouver BC and its Asian distribution office in Seoul, South Korea. Founded by 4 producers, Kirk Shaw, Daniel Grodnik, Jeff Bowler and Bret Saxon, the Company's core business is producing market-driven independent feature films and quality television series for multi-platform global exploitation. Current productions include the feature films, Moose (starring John Travolta) and Primal (starring Nicolas Cage.) Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm's length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.
ABOUT KIRK SHAW
Over his 30-year career, Kirk's producer credits exceed 230 movies and six series making him Hollywood's second most prolific film producer in history. Best known for his business and financing prowess, Kirk has contributed his talents to both U.S. television series and feature films, including the Oscar winning, "The Hurt Locker." Kirk's worked with all major studios, plus many notable "A" list stars such as Charlize Theron, John Travolta, Woody Harrelson, Kim Basinger, John Cusack, Ray Liotta, Nicolas Cage, Thomas Jane and Cuba Gooding Jr. Among his many past successes, is the creation of Canada's largest production company, Insight Film Studios, which in 2007 and 08 did $100 million consolidated revenue each year. To jump-start Wonderfilm’ s production acquisitions and library exploitation, Kirk vended 46 completed movies into Wonderfilm.
About the Movie Studio: The Movie Studio, Inc. operates as a vertically integrated motion picture production and distribution company. It acquires, develops, produces, and distributes independent motion picture content for worldwide consumption in theatrical, video on demand, foreign sales, and on various media devices. The Movie Studio, Inc. is disrupting traditional media content delivery systems with its digital business model of motion picture distribution and intends direct server access of its content with geo- fractured territories for worldwide distribution. The company was formerly known as Destination Television, Inc. and changed its name to The Movie Studio, Inc. in November 2012. The Movie Studio, Inc. was founded in 1961 and is headquartered in Fort Lauderdale, Florida.
The Movie Studio, Inc.
Gordon Scott Venters
President & Chief Executive Officer
2598 E. Sunrise Blvd. #2104 Ft. Lauderdale, Florida 33304
This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results, specifically in the areas of future sales growth and profitability. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.