Exhibit 99.1
ContentFilm and Image Entertainment Sign Worldwide Co-Production Deal
for Theatrical Feature Films and Home Video Distribution
CHATSWORTH, Calif.--(BUSINESS WIRE)--Nov. 4, 2004--
Agreement Will Lead to Shared Properties and a Substantial
Increase in ContentFilm's Production Output
Image Entertainment, Inc. (Nasdaq:DISK), a leading independent
licensee, producer and distributor of exclusive DVD programming in
North America, and ContentFilm today announced an agreement to jointly
produce, finance, and distribute a series of feature films, with the
copyright being shared between the companies. The films will be
intended for theatrical release, with the revenues primarily driven by
worldwide DVD distribution.
The jointly-owned films will be sourced and produced by
ContentFilm, distributed in the North American video market by Image
under a newly-created ContentFilm home video label, and distributed to
theatrical, broadcast and international home video markets by
ContentFilm and ContentFilm International.
With an initial target of three to four films a year, the deal
with Image is expected to lead to a substantial increase in
ContentFilm's production output. The first film will be announced
shortly. In addition to new productions, ContentFilm will look for
acquisitions of completed films for video distribution by Image.
"Our deal with Image represents an extension of a part of the
business that has been core to ContentFilm from the beginning, and we
are pleased to have found a partner to expand our efforts," said ▇▇▇▇
▇▇▇▇▇▇▇, co-CEO, ContentFilm. "Our goal is to bring together clever
scripts, original direction, recognizable casts and sensible budgets
to create films with worldwide video appeal and theatrical potential."
"This agreement will build both our library and Image's, as we
find new and talented young directors, and hopefully unearth some
franchise opportunities," said ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, co-CEO, ContentFilm.
"Image is ready to pursue this amazing opportunity with us, and we are
delighted to be in business with their world class organization to
create a long-term body of work."
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, Image's CEO and President, commented, "This
opportunity to partner with ContentFilm and ▇▇ ▇▇▇▇▇▇▇▇ represents an
expansion of our corporate strategy. The agreement reiterates our
commitment to content creation with shared copyright and multiple
revenue streams. Coupled with other initiatives we've recently
announced, Image is well-positioned to be a force in the world of high
concept but lower budget, genre-specific theatrical features. Over the
years, we have produced programming in the music, comedy, urban,
lifestyle and narrative feature film categories, and we continue to
search for new opportunities to add to our large exclusive library.
This agreement further supports and expands upon our well-established
reputation of bringing quality and compelling entertainment to
audiences around the world."
"▇▇ ▇▇▇▇▇▇▇▇ has a long-standing track record in the development,
creation, and acquisition of commercially successful and critically
acclaimed feature films," said ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇. Vice President,
Acquisitions, Image Entertainment. "The ContentFilm label will become
one of the cornerstones of our programming strategy to have equity
positions in compelling feature films that can be exploited in
multiple distribution channels including theatrical, broadcast, VOD,
digital/wireless, and packaged media."
About ContentFilm:
ContentFilm is a London-based film production, distribution and
financing company with operations in Los Angeles, New York and London.
The Company was formed in March 2004 through a reverse takeover of
Winchester Entertainment PLC by ContentFilm, Inc., a New York-based,
independent film production company. The group's strategy is to build
a fully integrated international film business, producing high-quality
films on disciplined budgets and developing an enhanced international
sales and distribution business in the U.S. and Europe.
About Image Entertainment:
Image Entertainment, Inc. is a leading independent licensee,
producer and distributor of home entertainment programming in North
America with more than 2,600 exclusive DVD titles in domestic release
and approximately 300 programs internationally via sublicense
agreements. The Company also has exclusive audio, broadcast, video on
demand, streaming video, and download rights for many of its exclusive
properties. The Company is headquartered in Chatsworth, California,
and has a domestic distribution facility in Las Vegas, Nevada. For
more information on Image Entertainment, Inc., please go to
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Forward-Looking Statements:
This press release may contain forward-looking statements which
are based on the Company's current expectations, forecasts and
assumptions. In some cases forward-looking statements may be
identified by forward-looking words like "would," "intend," "hope,"
"will," "may," "should," "expect," "anticipate," "believe,"
"estimate," "predict," "continue," or similar words. Forward looking
statements involve risks and uncertainties which could cause actual
outcomes and results to differ materially from the Company's
expectations, forecasts and assumptions. These risks and uncertainties
include risks and uncertainties not in the control of the Company,
including, without limitation, the current economic climate and other
risks and uncertainties, including those enumerated and described in
the Company's filings with the Securities and Exchange Commission,
which filings are available on the SEC's website at ▇▇▇.▇▇▇.▇▇▇. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
CONTACT: Image Entertainment, Inc.
▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇-▇▇▇-▇▇▇▇
▇▇▇▇@▇▇▇▇▇-▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇
or
Image Investor Contact
MKR Group, LLC
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ or ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇-▇▇▇-▇▇▇▇
▇▇@▇▇▇-▇▇▇▇▇.▇▇▇
or
ContentFilm Contact
▇▇▇▇▇▇ ▇▇▇▇▇▇ & Associates
▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇-▇▇▇-▇▇▇▇
or
ContentFilm PR Contact
Portland PR/London
▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇ ▇▇▇▇ 421218
▇▇▇.▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇
