MALIBU, Calif., Jan. 12, 2009 (GLOBE NEWSWIRE) -- With a combined slate of more than forty new releases, Empire Film Group, Inc. (Pink Sheets:EFGU) (http://www.empirefilmgroup.com) is positioned to rapidly ascend to the top tier of independent studios by the end of 2009, reports CEO Dean Hamilton-Bornstein. With eight theatrical films, thirty direct-to-video titles and six new release books from the company's Hannover House publishing division, Empire anticipates revenues in 2009 that would place the company in third position among all domestic independent distributors, subordinate only to Lionsgate and Summit Releasing for total market share.
"We finally have the product and infrastructure to compete at the highest level for releases, screens, shelf space and bottom line results," said Bornstein. "Our release slate for 2009 builds with each quarter, and by year's end, we should have our first 1,000-print theatrical title ready to release. We viewed 2008 as our start-up year, yet we achieved respectable profits. Empire's key management team is comprised of top professionals in each aspect of the industry, from finance to distribution and marketing. With this operational structure and our supply of quality, commercial new releases, we are on target to achieve impressive gross revenues and bottom line profits for the next two years."
Following the completion of the 2008 year-end audit, Empire plans to become a fully reporting company, Bornstein continued. The company will be looking to move off the Pink Sheets this spring to become bulletin-board status, and possibly move onto a higher profile exchange such as NASDAQ or the American Stock Exchange. Empire Distribution CEO, Eric Parkinson, appeared on Money TV recently with a broadcast from the floor of the American Stock Exchange where he answered questions about the prospect of Empire moving to the AMEX.
"Our plan has always been to strengthen the company's fundamentals before moving to one of the major exchanges," Parkinson replied to Money TV host, Donald Baillargeon. "We would like to have an annual revenue base in the $100 million range, which we feel would provide credibility, liquidity and comfort for major investors as our goal for 2009."
Specific titles in Empire's release slate will be announced over a 90-day timeframe, commencing January 26th at the NATPE Conference in Las Vegas. The titles are comprised of eight original features produced, co-produced or facilitated by Empire and six direct-to-video productions produced or facilitated by Empire, with the balance of releases as licensed acquisitions from independent producers and program rights owners. In addition to the forty new titles for 2009, Empire owns or controls a library of more than 170 titles, over half of which are currently in release. Top selling current DVD titles for Empire include "Hounddog" starring Dakota Fanning, "The Last Brickmaker In America" starring Sidney Poitier, "Grand Champion" starring Bruce Willis and Emma Roberts, and "Teen Yoga" starring Miss Teen USA (2005), Allie LaForce.
Learn more about Empire Film Group at www.empirefilmgroup.com