TORONTO, Nov. 10, 2008 (GLOBE NEWSWIRE) -- Dolphin Digital Media, Inc. (OTCBB:DPDM), a developer of uniquely safe social networking websites using state-of-the-art fingerprint identification technology, announced today that it has expanded its digital rights portfolio through its licensing partner, Dolphin Entertainment, which has secured more than $100 million in production and marketing financing from Continental Entertainment Capital (CEC), an affiliate of Citigroup, for a slate of six feature films targeting teens and tweens. Dolphin Entertainment is a leading producer of children's and young adult entertainment, including Nickelodeon's highest-rated series Zoey 101, the Roxy Hunter mystery movie franchise, and the upcoming, highly anticipated Spectacular, Nickelodeon's first-ever musical, scheduled to premiere in the first quarter, 2009.
Dolphin Digital Media has an exclusive, worldwide, ten-year license with Dolphin Entertainment for the use of its current and future brand properties for the creation of secure social networking sites and other digital media commercial opportunities, including the creation of online fan clubs, as well as video and music download rights and related branded merchandise sales.
"We believe the production of feature motion pictures is a natural extension of our business of creating engaging and high-quality productions targeting our core demographic of children and teen audiences, a market we know very well," stated Bill O'Dowd, President of Dolphin Entertainment, as well as Chairman and Chief Executive Officer of Dolphin Digital Media, Inc.
"We look forward to extending to Dolphin Digital Media the current and new brands to be developed as a result of this six-picture slate so that Dolphin Digital Media can create 'secure' branded social networking websites built around these films. Dolphin Digital Media's proprietary Internet safety technology, developed in association with Fujitsu and Novell, is based on fingerprint identification, and provides a safe online atmosphere for our young audiences, while providing parents the added assurance that their children are utilizing the Internet in a protected online environment."
The first feature film to be produced under the financing arrangement is "Soul Surfer - The Bethany Hamilton Story," an inspirational true story about the well-known female teen surfer who lost her left arm in a shark attack and who overcame the debilitating injury to become a professional surfer today. Other films to follow will cover a wide range of genres, including musicals, romantic-comedies, and thrillers.
ABOUT DOLPHIN DIGITAL MEDIA, INC.
Dolphin Digital Media, Inc., (www.dolphindigitalmedia.com), formerly Logica Holdings, creates and manages social networking websites for children utilizing state-of the-art fingerprint identification technology. As a leading developer of Internet safety technology operating in the entertainment, digital media, and e-commerce sectors, there is a focus on the growing global market for social networking, downloadable entertainment content and branded merchandise sales.
The Dolphin Digital Media, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4331
ABOUT DOLPHIN ENTERTAINMENT
Founded by Bill O'Dowd in 1996, Dolphin Entertainment is a leading independent entertainment studio, specializing in content for children and young adults, with operations in production, distribution, financing, and licensing and merchandising, on a worldwide basis. Dolphin is a top supplier of programming for Nickelodeon, with hit television titles such as Emmy-nominated and top-rated "Zoey 101," as well as "Ned's Declassified School Survival Guide," and the "Roxy Hunter" mystery-movie franchise, all of which have sold into more than 100 countries. Dolphin's most recent completed project, the comedy TV movie "Gym Teacher," starring Chris Meloni (Law and Order: SVU) and Nathan Kress (iCarly), premiered on Nickelodeon on Friday, September 12, 2008.
SAFE HARBOR STATEMENT
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-KSB and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.