47 METERS DOWN stars Mandy Moore (TANGLED) and Claire Holt (THE VAMPIRE DIARIES) and tells the story of two adventure-seeking sisters who go cage-diving while on vacation in Mexico. Much to their horror, the cage breaks away from the boat, leaving the pair in an observation cage trapped at the bottom of the ocean, surrounded by hungry Great White sharks. The key to their survival – with very little time and very little oxygen in their tanks – is to try and swim 47 meters to the surface while being hunted by the sharks. 47 METERS DOWN also stars Matthew Modine (FULL METAL JACKET) and is directed by Johannes Roberts. Mark Lane and James Harris produced 47 METERS DOWN, with Bob and Harvey Weinstein as Executive Producers.
Entertainment Studios currently has a multi-year output deal with Netflix, and also recently closed a multi-year home entertainment output deal with Anchor Bay/Starz with the announcement of acquiring, producing, and globally distributing 100 motion pictures over the next 5 years. 47 METERS DOWN is the second acquisition by Entertainment Studios, with the horror/suspense movie FRIEND REQUEST (scheduled for wide release on 2,500+ screens on October 7, 2016) being the first.
"Dimension Films has delivered us a terrific movie," said Byron Allen, Founder, Chairman, and CEO of Entertainment Studios. "We have paid a premium for 47 METERS DOWN because we really believe in the genre, and in the film."
"We love this film and support the filmmakers. We even contributed additional funds to enhance the picture," said Matthew Signer, EVP of Production & Creative Affairs for Dimension Films. "Our original plan was to release the film before THE SHALLOWS but since that couldn't happen, we decided to go with a more conservative release strategy that would take place this Summer. When the producers brought us Entertainment Studios, who will release the movie wide next year, we all agreed this would be the best option for everyone involved and were happy to make a deal. We wish Entertainment Studios the best of luck and couldn't be happier for the filmmakers."
"We loved working with Bob, Matt and Keith at Dimension. They stepped up creatively and financially to improve the film tremendously and we are grateful to them for allowing us this opportunity. We are discussing a few projects and hope to work together in the near future," said producers Mark Lane and James Harris.
About Entertainment Studios
Chairman and CEO Byron Allen founded Entertainment Studios in 1993. Headquartered in Los Angeles, it has offices in New York, Chicago, Denver, and Raleigh. Entertainment Studios owns seven 24-hour HD cable television networks serving nearly 80 million subscribers: PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, and JUSTICE CENTRAL.TV. The company also produces, distributes, and sells advertising for 40 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. With a library of over 5,000 hours of owned content across multiple genres, Entertainment Studios provides video content to broadcast television stations, cable television networks, mobile devices, multimedia platforms, and the World Wide Web. Our mission is to provide excellent programming to our viewers, online users, and Fortune 500 advertising partners.
In 2015, Entertainment Studios purchased Freestyle Releasing, a full-service, theatrical motion picture distribution company that specializes in representing independent companies, major studios, and mini-major studios for the purpose of exhibiting their films as first-class theatrical releases. The co-founder and principal of Freestyle Releasing, Mark Borde, is a highly-regarded and experienced motion picture veteran with decades of respected work in the industry. The digital distribution unit of Freestyle, Freestyle Digital Media, supplies quality commercial film and TV content directly to all US VOD/SVOD rental DVD/Kiosks and theaters using the latest cloud-based technologies to automate digital workflow. Freestyle Digital Media provides our content audience a positive digital viewing experience on every device everywhere.
In 2016, Entertainment Studios purchased TheGrio, a digital video-centric news community platform devoted to providing African-Americans with compelling stories and perspectives currently underrepresented in existing national news outlets. TheGrio features aggregated and original video packages, news articles, and blogs on topics that include breaking news, politics, health, business, and entertainment. Originally launched in 2009, the platform was then purchased by NBC News in 2010. In 2014, TheGrio founders purchased their company back from NBC News and has since tripled its traffic rate. The digital platform remains focused on curating exciting digital content and currently has more than 20 million annual visitors.
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SOURCE Entertainment Studios, Inc.