Hannover House on Target at Sundance for Major Titles
January 07 2010 - 7:00AM
Marketwired
Hannover House, the film and video distribution division of Target
Development Group, Inc. (PINKSHEETS: TDGI) (Other:
www.TargetDevelopmentGroup.com, www.HannoverHouse.com), is armed
with cash and ready to buy films as one of an elite group of
recognized studio buyers at the upcoming Sundance Film Festival.
Funds from a variety of off-balance-sheet acquisition ventures will
enable Hannover House to compete with the major studios for the
distribution rights to the top echelon of "A" level theatrical
titles, said C.E.O. Eric Parkinson.
"We're actively pursuing commercial hits," said Parkinson. "Our
acquisition model of off-balance-sheet co-ventures will enable
Hannover House to pay significant advances if needed, yet limit the
company's downside risk. We feel that this sort of credit
arrangement is more beneficial to our shareholders than a
traditional debt line or the issuance of new equity shares. It's a
creative way for the company to acquire the high-profile titles
that will drive our growing business," he continued.
Over the past 26 years, many key titles from the Sundance Film
Festival have gone on to achieve notable, commercial success.
Hannover House will be attending this year's festival looking to
acquire the U.S. distribution rights to films that have significant
theatrical potential.
"Hannover House already has a solid line-up of new release
titles for 2010," said Parkinson. "But we have room to add up to
four major titles to our schedule, and will be a highly visible
player at this year's Sundance," he concluded.
The 26th annual Sundance Film Festival will be held from January
21 through 31 in Park City, Utah. Hannover House is a wholly-owned
subsidiary of Target Development Group, Inc.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking
statements within the meaning of Sections 27A & 21E of the
amended Securities and Exchange Acts of 1933-34, which are intended
to be covered by the safe harbors created thereby. Although the
company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, there
can be no assurance that these statements included in this press
release will prove accurate.
For more information contact: Richard Prudenti Director of
Marketing & Publicity 479-751-4500 Email: Email Contact
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