BEVERLY HILLS, Calif., Oct. 21, 2015 /PRNewswire/ -- Modern Cinema Group Inc. (OTCPK: MOCI) recently effected a change in its name from "Hemis Corporation" to Modern Cinema Group Inc. and a corporate restructure in anticipation of its future business operations. MOCI wishes to provide an update to its shareholders.
Look out Netflix! The world's largest cable and satellite operators are forming a co-operative to co-finance original Hollywood movies and television series in order to better compete with emerging on-line services. These huge global cable, satellite and even mobile operators are rarely competitive with one another, so management of MOCI believes it's a perfect opportunity to spread the risk of financing in such a way as to produce slates of $100 million features at a time when they need them most - as Netflix now has its eyes overseas!
Mitch Goldman, former New Line President of Marketing and Distribution, says, "It's about time television operators wake up and smell the coffee. They have a lock on sports, so they will be with us for many years to come, however they must find ways to compete by producing their own exclusive features. Since costs have spiraled out of control over the last two decades, a co-operative structure may be the best way for them to compete for subscribers without betting the farm."
Modern Cinema Group, based in Beverly Hills, founded in San Diego, has spent the last three years designing and patenting a model that allows both studios and operators to integrate their systems to leverage each other's natural advantages. Ross Cooper, founder of Modern Cinema Group, states, "There are tremendous advantages in better integrating production studios with vast downstream broadcast and on-demand networks, especially when these networks operate within a co-operative structure. One advantage is the studio's ability to advertise its movies across such a co-operative framework. Since television advertising is still the best way to promote new movie releases, costs can be lowered to the place where both sides enjoy larger bottom-line profits."
Earlier this year, MOCI representatives traveled to China where they brokered deals with three Chinese Film Funds. The strategy is for the global operators to finance 50% of each production and the other 50% to come from one or more of these funds. Management anticipates that production financing from these funds is scheduled to arrive by December 2015 so the production on their first movie (written and directed by Dale Launer) can commence. The future operational strategy of MOCI includes three further productions for 2016 / 2017 with continuing operational plans with the ultimate goal of 12 movies per year by 2020.
Selected Dale Launer movies:
- My Cousin Vinny
- Ruthless People
- Dirty Rotten Scoundrels
FORWARD LOOKING STATEMENT
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
SOURCE Modern Cinema Group Inc.