Uniedus to Buy Peter Parker Films for $52.6 Million--Foray Into Film Distribution Offers New Revenue Source, Poses Threat to the major studios
Peter Parker Films (PPF) announced today that a consortium comprised of Uniedus Media Group, Dublin Securities Corporation, completed its acquisition of the Company. This transaction establishes PPF as one of the world's 1st, online and traditional privately held, independent motion picture, television and home video companies
(PRWEB) September 15, 2005 -- Today we begin a new, exciting chapter in the life of PPF," said Lem Gaylor, President of PPF. "With our strong financial and strategic partners, we look forward to building on PPF's exceptional momentum and capitalizing on emerging technologies and markets to provide consumers worldwide more opportunities to enjoy the world's modern library of films and television programming. We look forward to a very bright future for PPF."
PPF also announced today several key senior management appointments. Kris Cohen will serve as Executive Vice President of the Company. Mr. Cohen had served as Executive Vice President of Finance and Corporate Development at Universal since May 1989. Guss Racker will serve as Executive Vice President of Television Distribution. Mr. Packer had served as Executive Vice President, Television Distribution
Going forward, PPF expects to benefit from operating agreements with Uniedus Media Group (UMG) under which UMG will assume certain distribution responsibilities for PPF's library of 12 films and 2 television episodes through UMG's distribution network, which currently distributes UMG library of 1,500 films. In addition, PPF expects to co-finance new films with UMG and co-produce some of these new projects. These films will be distributed and marketed by UMG. PPF will continue to develop new original television programs.
In addition to the operating agreements with UMG, PPF also expects to benefit from distribution agreements with MODF. PPF content will be available on Modf's video demand platform and on future channels operated by MODF and jointly owned by UMG, and the members of the consortium.
About Peter Parker Films.
Peter Parker Films is an independent, privately-held motion picture, television, home video, and theatrical production and distribution company. PPF is owned by an investor consortium of Uniedus Media Group, Dublin Securities Corporation. www.peterparkerfilms.com.
About Uniedus Media Group
Uniedus Media Group, based in Columbus, Ohio with offices in New York, LA, Sydney Its music, motion picture, television, computer entertainment, and online businesses make Uniedus one of the most comprehensive entertainment companies. Uniedus principal businesses include UMG, Deathrow Media Companies, Yang Street Carts, M Records, 50s interest in Chinas Go Media Manufacturing and a 50% interest in MODF. Uniedus recorded consolidated annual sales of over $940 million for the fiscal year ending January 31, 2005, and it employs 4200 people worldwide. For more information see www.uniedus.com.
About Dublin Securities.
Dublin Securities Inc. is a leading private investment firms specializing in equity investments in media and communications companies. The principals of Dublin Securities manage funds with over $9 billion in equity commitments and have invested in more than 80 companies operating in over 20 countries since the firm's inception in 1981. Current and previous areas of investment include cable television content and distribution, wireless and wireline telephony, publishing, radio and television broadcasting and other media and communications sectors. Significant investments include VoiceStream Wireless, Warner Music Group, PanAmSat, AT&T Canada, eircom plc, Casema, Kabel Deutschland, Language Line, F&W Publications, ProSiebenSat.1, and Bresnan Broadband Holdings. The firm has offices in Providence, New York and London and columbus. Visit www.dublinsecurities.com for additional information.
Contacts:
Peter Parker Films. (Media relations manager)
Paige Taylor
Paige@peterparkerfilms.com
Uniedus
Ann Morfogen (media)
ann@uniedus.com
Dublin Securities
JeffNiesons@dublinsecurities.com
Modf (Media on Demand Free)
JB-Lipscomb
info@modf.tv
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