AUSTIN, Texas, Oct. 17, 2007 (PRIME NEWSWIRE) -- Owned Entertainment, Inc. announced today that it has launched its websites ownedentertainment.com and MMAmovie.com to the public. The website contains pictures and detailed bios of the newly announced executive team which includes Chairman/CEO Eric Alfio, President James Hergott, President of Production Tarquin Gotch, President of European Distribution Don Clovis, and President of Domestic Distribution and Marketing Damir Catic. The website also has a "Captured" section which includes a number of pictures of its executive staff.
First Project Announced
Chairman/CEO Eric Alfio is funding the initial start up and will be funding the first movie going into production "Owned". Alfio comments, "We have a very strong and diverse team with expertise in different areas of the industry, we will set a new standard for mainstream independent entertainment." The company has also retained an attorney to take the company public for additional expansion. James Hergott who recently completed the screenplay and will also be directing Owned comments, "This is by far the best screenplay I have ever written. It includes MMA fighting but is also set in the future and is an exciting sci-fi action thriller. It is a mix of Die Hard, The Matrix, and A History of Violence. We will be looking for a combination of talented actors and MMA fighters for the movie. By having our funding already in place it allows us to focus on the creative side of the business without worrying about capitalization."
First Fighter Announced
The first fighter announced is undefeated MMA fighter and world kickboxing champion Cung Le (www.cungle.com). Le has a key role in the upcoming Academy Award winner Terrance Howard (The Brave One, Pride, Hustle & Flow) film Fighting and is growing an impressive acting resume. Le is excited to be a key character in Owned. He comments, "I am very happy to accept a challenging role that will allow me to grow as an actor and I look forward to working with Mr. Hergott."
Interactive Entertainment Division Announced
Owned Entertainment, Inc. is also starting an interactive entertainment division and will be producing a video game in conjunction with the movie. Owned Entertainment is in negotiations with several top video game and software designers about co-producing the game. While last year's U.S. movie box office increased to $9.49 billion, the global video game market is expected to grow from $33 billion in 2006 to as much as $47 billion in 2009. It is projected that worldwide sales for the top video game consoles will reach between 180 and 210 million by 2012. The recently released Halo video game pulled in an estimated $170 million during its first 24 hours, which is more money than any movie in history has made in the U.S. box office over the same period of time. Interactive entertainment typically has lower budgets and higher profit margins than motion pictures, which enables it to increase sales when released in conjunction with a motion picture. In a recent industry study it was reported that many games in this scenario have attained 90% or higher profit margin while the typical Hollywood studio generates overall margins in the 15% neighborhood. Owned Entertainment, Inc. intends to position itself to capitalize on this expanding entertainment market with an aggressive push in the interactive entertainment market as well as traditional movie markets.
Hergott comments, "The Owned movie is perfect for our first release as it translates well to both a motion picture and video game. It has already been reported that Wal-Mart is pulling movies off of shelves in order to increase its interactive entertainment content space and video stores such as Hollywood Video are closing up stores. As entertainment trends change we want to be in a position to capitalize on future growth markets. Our strategic plan is to be on the forefront of the convergence of movies and interactive entertainment so that we are prepared for the future. We want to not only be focused on where things are now, but where the market is headed in the next five to ten years. Such diversification could also put us in a prime position for a future acquisition by an entertainment or software media conglomerate." Owned Entertainment, Inc.'s Interactive division will be operated out of Houston, Texas.
About Owned Entertainment
Owned Entertainment, Inc. has emerged as a player in the area of independent film production and distribution, once monopolized by the major film studios. The company engages in investing, producing, and distributing full-length feature films as well as TV projects, video games and other entertainment entities. Along with its controlling equity interest in All That I Need, released in theatres December 2005 and released on DVD February 2006, there are several other projects in the making, including: The Other Side and Descendant, written by Damir Catic and Eric Alfio, the action thriller set in the world of Mixed Martial Arts Owned by James Hergott, Brothers by Tarquin Gotch (whose credits include Home Alone, Curly Sue, Ferris Bueller's Day Off) and the Reno 911-type comedic take-off on the popular The Ultimate Fighter TV show entitled Fight House. Our mission at Owned Entertainment, Inc. is to produce high quality and highly enjoyable feature films that will be widely distributed in the mainstream media markets. The corporate offices for Owned Entertainment, Inc. are in Austin, Texas with additional offices in Southern California. Owned Entertainment, Inc. has recently announced adding an Interactive Entertainment division to focus on video game development.
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