|
|
 | | | |
- close
- close
- close
- close
| |||||||||
PAE » Topics » Accelerating growth by acquiring existing content libraries and compatible distribution capabilitiesThis excerpt taken from the PAE 6-K filed Apr 4, 2008. Accelerating growth by acquiring existing content libraries and compatible distribution capabilities · Signed a multi-picture agreement with Corus Entertainment’s Western Canadian pay television service, Movie Central. Over the next three years, Movie Central will pre-license 24 new titles from Peace Arch, including movies-of-the-week and feature-length productions. · Acquired worldwide distribution rights to the thriller “Never Forget” starring Golden Globe® Award-nominated Lou Diamond Phillips in the lead role.
5 AMENDED AND RESTATED Subsequent to the first quarter, on December 21, 2006, the Company negotiated a settlement of an outstanding legal dispute with Viacom Inc., MTV Networks, and VH1 Music First et al. Viacom agreed to pay US$1.0 million as settlement to the Company’s claim for damages in the original amount of US$2.7 million and consequential damages arising from the failure to honor a contract for the co-financing of the television series “Big Sound”. In addition, the Company entered into a distribution agreement with Viacom for the sale of certain U.S. broadcast rights for the television series “Big Sound”. On December 21, 2006, the Company completed the acquisition of independent film companies Castle Hill Productions Inc. (“CHP”) and Dream LLC (“Dream”), for a purchase price of US$9 million. The acquisition was financed through US$8 million cash and US$1 million issuance of Company shares. The Dream/CHP library of approximately 500 titles represents one of the largest independent film libraries in the world, containing both classic and contemporary motion Pictures. This strategic transaction supports Peace Arch’s goal of revenue growth through U.S. and worldwide distribution, and brings to the Company a proven U.S. distribution and licensing operation with an experienced executive team. This excerpt taken from the PAE 6-K filed Jan 16, 2007. Accelerating growth by acquiring existing content libraries and compatible distribution capabilities · Signed a multi-picture agreement with Corus Entertainment’s Western Canadian pay television service, Movie Central. Over the next three years, Movie Central will pre-license 24 new titles from Peace Arch, including movies-of-the-week and feature-length productions. · Acquired worldwide distribution rights to the thriller “Never Forget” starring Golden Globe® Award-nominated Lou Diamond Phillips in the lead role.
2 Subsequent to the first quarter, on December 21, 2006, the Company negotiated a settlement of an outstanding legal dispute with Viacom Inc., MTV Networks, and VH1 Music First et al. Viacom agreed to pay US$1.0 million as settlement to the Company’s claim for damages in the original amount of US$2.7 million and consequential damages arising from the failure to honor a contract for the co-financing of the television series “Big Sound”. In addition, the Company entered into a distribution agreement with Viacom for the sale of certain U.S. broadcast rights for the television series “Big Sound”. On December 21, 2006, the Company completed the acquisition of independent film companies Castle Hill Productions Inc. (“CHP”) and Dream LLC (“Dream”), for a purchase price of US$9 million. The acquisition was financed through US$8 million cash and US$1 million issuance of Company shares. The Dream/CHP library of approximately 500 titles represents one of the largest independent film libraries in the world, containing both classic and contemporary motion Pictures. This strategic transaction supports Peace Arch’s goal of revenue growth through U.S. and worldwide distribution, and brings to the Company a proven U.S. distribution and licensing operation with an experienced executive team. | EXCERPTS ON THIS PAGE:
|
| |||||||
