LOS ANGELES, Jan. 24, 2005 (PRIMEZONE) -- Pacificap Entertainment Holdings (OTCBB:PFEH) ("Pacificap"), a film, television and entertainment-media finance and marketing company, has announced it has signed an agreement to acquire the television production arm of Battleship VFX, Inc. ("Battleship"), a cutting-edge pioneer of 3D and special effects properties. Battleship Founder Brenda Michel's retention was also part of the agreement.
Pacificap's activities involve the financing, production and marketing of unique films, live broadcasts, television, and other innovative media and entertainment offerings. The Battleship purchase is another milestone in the company's endeavors to broaden its offerings beyond film. (In late 2003 the company merged with Cavalcade of Sports Media, Inc., acquiring a comprehensive library of more than 10,000 hours of vintage sporting events and coverage including analysis and breaking news, dating back to the 1940s.)
Battleship has developed never-before-seen bleeding-edge 3D and special effect technologies to create and produce a whole new concept in television and entertainment properties. These shows utilize a distinctive multi-vertical brand strategy to build more widely recognized institutional and programming brands, increase viewership and maximize revenue from the licensing and merchandising of branded characters, properties and other innovative opportunities and vehicles.
"The acquisition of Battleship will take our company to the next level and value," stated Pacificap president Edward E. Litwak. "It furthers our continued momentum in building and creating a distinctive boutique firm for financing, developing, marketing, and distributing theatrical motion picture, television, video/DVD, and other innovative media and entertainment ideas, products and services to marketplaces world-wide."
"We are delighted with the relationship," said Brenda Michel, Founder and Chief Executive Officer of Battleship VFX Inc. "Becoming a part of Pacificap allows us to maximize our company's expertise, presence and reputation in the marketplace and accelerate the completion and release of what we expect will become a whole new genre in television and digital entertainment, art and education."
Battleship's talent roster already includes some of the industry's "cream of the crop" including multiple Emmy and industry award winners, with leading talent from the special effects and spatial 3D industries vying for remaining positions and involvement. Battleship's activities and relationships to date have cemented a strong foundation for maximum exposure and acceptance of its properties, the first of which has an expected release in fall of 2005.
About Pacificap Entertainment Holdings
Pacificap's activities involve the financing, production and marketing of unique films, live broadcasts, television, and other innovative media and entertainment offerings including sales, distribution, branding, and merchandising for theatrical motion picture, television, video/DVD, and other media and entertainment products and services to marketplaces world-wide.
The statements made by Pacificap Entertainment Holdings, Inc. (the Company) may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe the Company's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Cavalcade of Sports Media, Inc. Actual results could differ materially from those projected due to changes in interest rates, market competition, changes in the local and national economies, and various other factors. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events. Please refer to the Company's filings with the SEC for additional information regarding risks and uncertainties listed from time to time in such SEC reports. Copies of those filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at http://www.sec.gov.