WHAT THE ****! NEW BLOOD FILMS TO ACQUIRE DARK MYTH PRODUCTION STUDIOS
I was surfing around this afternoon and found this on google.
NEW BLOOD FILMS TO ACQUIRE DARK MYTH PRODUCTION STUDIOS
Fort Walton Beach, FL and Apple Valley, CA, August 1, 2010--Building on its strategy of delivering quality branded content to people around the world, The New Blood Films Company has agreed to acquire Dark Myth Production Studios, Inc. in a stock and cash transaction, the companies announced today.
Under the terms of the agreement and based on the closing price of New Blood Films on July 28, 2010, Dark Myth shareholders would receive a total of $10 per share in cash plus approximately 0.50 New Blood Films shares for each Dark Myth share they own. At closing, the amount of cash and stock will be adjusted if necessary so that the total value of the New Blood Films stock issued as merger consideration based on its trading value at that time is not less than 40% of the total merger consideration.
“Montoya and his team have done an impressive job of nurturing these properties and have created significant value. We are pleased to bring this talent and these great assets to New Blood."said Robert L. Alan Russo Jr., Majority Owner and Chief Executive Officer of The New Blood Films Company. "We believe that adding Dark Myth to New Blood Films' unique portfolio of brands provides significant opportunities for long-term growth and value creation,"
"New Blood is the perfect home for Dark Myth and its line of subsidiaries given its proven ability to expand content creation and licensing businesses," said David K. Montoya, the former owner of Dark Myth Production Studios.
Under the deal, New Blood Films will acquire ownership of Dark Myth including its several subsidiaries. Mr. Russo has named himself as the man to replace Montoya as the company's Chairman and Chief Executive Officer. While Mr. Montoya has been given a two book deal to publish under Dark Myth Publications or any of their imprints.
Once all the terms are worked out it is expected that this transaction will take effect starting November 1, 2010.
About New Blood Films.
New Blood Films is a major, independently owned and operated motion-picture Company.
The Company develops, produces, and distributes innovative feature films and documentaries, working with renowned and emerging writers and filmmakers. New Blood Films is consistently committed to filmed entertainment offering original ideas which are told in our unique films.
About Dark Myth Production Studios.
Dark Myth Production Studios is set to be one of the world's most prominent entertainment companies. Dark Myth's operations are focused in four areas: Entertainment Publications, Comics, Feature Films, and On-line Entertainment. The company and its subsidiaries can be found on-line at darkmythproductions.com and theworldofmyth.com.
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Forward-Looking Statements : This news release contains forward-looking statements which are subject to various risks and uncertainties. These risks and uncertainties include the conditions of the markets for the Internet, entertainment, and licensed merchandise, acceptance of the Company's subsidiaries, media and merchandise within those markets, and other risks and factors identified in documents filed with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.
