Hannover House sets sites on International Markets for $10-mm in Production Financing
May 16 2012 - 11:41AM
Financing for the original feature productions of "Mother Goose",
"Shadow Vision" and "Primate" will come primarily from
international pre-sales and co-production ventures, said Eric
Parkinson, CEO of Hannover House, Inc. (OTC Markets:
HHSE). The company expects to generate about
$10-million dollars worth of presales and co-production financing
support for the slate of pictures that will drive the Hannover
House schedule during 2013. The highest profile title,
"Mother Goose", featuring Academy Award winner Shirley MacLaine in
the title role, is a live-action fantasy feature that Hannover
House compares to Tim Burton's "Alice In Wonderland" in terms of
art direction and commercial appeal. "Shadow Vision" is a
suspense thriller, and "Primate" is a creature-feature.
Negotiations are in play with key international buyers, said
Parkinson, driven in large part by the high-profile concepts and
cast attachments to these films. The cast for "Mother
Goose" is expected to include at least one additional Academy Award
winner, and will feature a several additional "A-level" stars in
supporting and cameo roles. Hannover House is in negotiations
for the hiring of a director for this film, and is expected to make
an announcement during the Cannes Film Festival.
"Over the past few years, we have developed a solid distribution
pipeline into the U.S. market, utilizing third-party acquisitions
as our product sources," said Parkinson. "There are definite
benefits to a business model that relies on third-party
acquisitions. However, we've discovered that most of the top
tier titles never make it to the festivals and markets as they tend
to have their U.S. rights locked-up prior to production. For
Hannover House to have a reliable supply of event-level pictures,
we will emulate an element of the production business model for
companies such as Lionsgate and Summit. This means that, for
a handful of significant titles, Hannover House will acquire the
production rights at an early stage and assemble the financing
through international presales, partnerships and
co-productions. This move will provide the company with
assurances of having major titles to drive the release schedule, as
well as the benefits of generating significant international
revenues to supplement our domestic business model."
Hannover House is developing additional projects that the company
feels would provide event-level tent-pole releases for 2013 and
2014.
"Our home video division has been performing very consistently for
the past six months, and is on track for a great year," Parkinson
continued. "All that Hannover House needs to truly break-out
as a major independent supplier is one, moderate-level theatrical
success. If we could be so fortunate to have a transformative
home-run, such as a 'Twilight' or even a "Saw' series, then I think
you'd see the company leap forward into the realm of
$100-million-plus in annualized revenues."
The highest profile theatrical title currently on the Hannover
House roster for 2012 is the August release of "Toys in the Attic,"
an acclaimed, stop-motion animated film, featuring the voices of
Forest Whitaker, Joan Cusack, Cary Elwes and Vivian
Schilling. Hannover House expects to release "Toys in the
Attic" to most major American cities in August and September,
before a high-profile home-video and video-on-demand release in
January, 2013. Other announced theatrical releases this year
include the Russian thriller, "The Weather Station" and the Mexican
action-film, "Asalto Al Cine." High-profile titles for home
video release include "Humans Vs. Zombies", "Patient Zero",
"Hostage" and "The Mothman Chronicles."
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.
A photo accompanying this release is available
at:http://www.globenewswire.com/newsroom/prs/?pkgid=12922
CONTACT: Tim Ellis, Hannover House, 479-751-4500, TEllis7073@yahoo.com
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