VANCOUVER, BC / April 25, 2014 / Gener8 Media Corp. (CSE: GNR) ("Gener8" or the "Company") is pleased to announce it has acquired an additional 4% of the shares of Reelhouse Media Ltd. from Reelhouse employees, increasing Gener8's total ownership interest to 70%.
Since its inception in late 2012, Reelhouse has captured the attention of filmmakers and film fans with a new direct-to-consumer digital distribution platform. Hollywood studios and independent filmmakers alike use Reelhouse to showcase their movies in a new model that is more flexible for producers and more engaging for viewers.
Recently filmmaker Douglas Horn uses his blog to tell readers why Reelhouse is his platform of choice. Read the article at: www.douglashorn.com/wordpress/distribution/launching-films-on-vod.
The rapid growth of Reelhouse was spurred by its partnership with Sundance, its participation in Warner Bros.' Media Camp Accelerator Program and the distribution of top-tier Warner films including Gravity, The Great Gatsby and Man of Steel.
Reelhouse CEO William Mainguy says, "We are excited about Gener8's continued interest in Reelhouse. We see Gener8 as a big player with an experienced management team, so their continued support of us means a lot."
"We are bullish on where Reelhouse is going. Its disruptive film distribution platform is a great fit within our business, and we want to control as much as we can to maximize Gener8 shareholder value," says Rory Armes, Gener8 CEO.
Reelhouse is an open video-sharing platform dedicated specifically for quality entertainment content. The platform offers a comprehensive toolset for filmmakers to distribute and market their content while providing a far more engaging experience for their viewers. The toolset includes various monetization, customization and social tools to help filmmakers build their fan base. Reelhouse is a vibrant community and as a destination site also embeds a range of features specifically for viewers to facilitate discovery, ease of access, sharing and curation. Visit the company website at www.reelhouse.org.
Gener8 Media Corp. is a media technology company led by a team of gaming industry veterans. At the forefront of postproduction, the Company earned its stripes by developing a proprietary 3D conversion technology, garnering high-profile credits including "300: Rise of a Empire," "The Amazing Spider-Man," "Prometheus" and "Harry Potter." Gener8 is expanding into offering visual effects services and a cloud-based data analytics solution called Cumul8. With its focus on developing disruptive solutions that combine design and technology, Gener8 also retains a majority interest in Reelhouse Media Ltd., an online entertainment distribution start-up. Gener8's head office is located in Vancouver, British Columbia and currently employs over 200 staff. Visit the company website at www.gener8.com.
ON BEHALF OF THE BOARD OF THE COMPANY
Chief Executive Officer and Director
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Vice President of Corporate Affairs
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Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. In particular, forward-looking statements in this press release include, but are not limited to, statements with respect to: Reelhouse. Although Gener8 believes that the expectations reflected in the forward-looking statements are reasonable; there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, risks with respect to: closing the definitive agreements respecting the transaction with FFD, obtaining all regulatory and third party consents, meeting our contractual timelines and milestones on our 3D film conversion contracts; general economic conditions in Canada and globally; film industry conditions; competition for, among other things, capital and skilled personnel; changes in economic and market conditions that could lead to reduced spending on 3D film conversion; potential delays or changes in plans with respect to deployment of services or capital expenditures; our ability to hire and retain qualified employees and key management personnel; possibility that government policies or laws may change; amount and timing of operating costs and capital expenditures; the success of certain business combinations engaged in by the Company or by its competitors; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to acquisitions and international expansion; reliance on large customers; reliance on a limited number of suppliers; risks related to the Company's competition; the Company's failure to adequately protect its intellectual property; interruption or failure of information technology systems; the risk that the transaction may not be completed as planned, or at all; and business, legal and/or regulatory risks relating to Gener8's business, financings and strategic acquisitions. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE: Gener8 Media Corp.
Release ID: 41939