Medient Studios, Inc. has signed a memorandum of understanding to acquire 100 percent ownership of Germany-based Atlas International Film GmbH.
In addition to Atlas’ expertise in worldwide entertainment licensing, its large client base of U.S. and international film distributors and content producers and its access to various investment groups and financing sources globally, the combined entity will benefit from the film production and post-production infrastructure at the Medient Studioplex to be built in Effingham County.
“Atlas is a specialist in the exploitation of action, horror and related genres and is a wonderful strategic fit for Medient given our focus on these genres as the core output from the Studioplex,” said Manu Kumaran, chairman of Medient. “With Atlas by our side, we can provide the opportunity to green-light quality projects without having to raise external capital.”
“Having known Manu and the Medient team for some time now, it is truly extraordinary to have seen the Studioplex vision take massive steps to become reality,” said Philipp Menz, president of Atlas. “On behalf of my fellow owners and I and all the employees of Atlas, we are honored and excited to be part of such an industry-changing company.”
Kumaran added, “We will continue to add strategic elements to our company to create a vertically-integrated ‘insourced’ content creation company.”
The company will unveil the movie production slate for 2014 shortly.
Medient is building a fully-integrated movie and game production facility and campus on a 1,550-acre property in Effingham County. Once operational the production facility will be the largest of its kind in the U.S.