FAB Universal Acquires Exclusive Broadcast and Distribution Rights in China for Robert Redford Movie “The Company You Keep"
PITTSBURGH--(BUSINESS WIRE)--FAB Universal (OTC: FABU) (“FAB” or the “Company”), a worldwide distributor of digital entertainment, today announced that it has entered into an agreement to acquire the exclusive broadcast and distribution rights in China for the movie, “The Company You Keep.” The 2012 movie starring Robert Redford, who also produced and directed the film, is a political action thriller. The agreement grants FAB the sole broadcast rights for the movie on all channels in China including the internet, TV and mobile terminals. Promotional movie posters for the film include a FAB exclusive copyright logo.
“FAB will continue to expand the copyrighted content library by acquiring additional high-quality and award-winning US movies for release into the Chinese Mainland.”
“The Company You Keep” was officially released in all movie theaters in the Chinese Mainland on July 8th, 2014. Through FAB’s cooperative channel agreement with China Mobile Video Innovation Base, the movie debuted on the Base on August 8th, 2014 where users can pay or subscribe to watch it. China Mobile Video Innovation Base is the largest wireless video products and content operational center in China with an average user base of 130 million per month. FAB splits the revenue generated from users who pay or subscribe to view the film 50%:50% with China Mobile Video Innovation Base.
The script was written by Lem Dobbs based on the 2003 novel of the same name by Neil Gordon. The story centers on Jim Grant, played by Redford who has hidden from the FBI for over 30 years and must now clear his name when his identity is exposed by a young reporter, played by Shia LaBeouf. Robert Redford has two Oscar Awards, three Oscar nominations, six Golden Globe Awards and four Golden Globe nominations. Redford also won two awards at the 2012 Venice Film Festival for “The Company You Keep.” LaBeouf, a promising young actor who won a Daytime Emmy Award for his performance in the popular Disney Channel series “Even Stevens,” also stars in the film. He is also well known for his leading role in the first three installments of the popular “Transformers” series.
“As FAB develops the Cross-Platform Video Operation business, the acquisition of exclusive rights to U.S. films like this, starring acclaimed and popular actors, gives the company a competitive advantage. Not only does it expand our copyrighted content library but positions FAB as the exclusive rights holder in China for this film which strengthens our Cooperative Channel relationships,” said Chris Spencer, CEO of FAB Universal. “FAB will continue to expand the copyrighted content library by acquiring additional high-quality and award-winning US movies for release into the Chinese Mainland.”
About FAB Universal Corp.
FAB Universal Corp. is in the business of digital media entertainment sales and distribution through three business units: Digital Media Services, Retail Media Sales and Wholesale Media Distribution. FAB is a publicly traded Pittsburgh based company, with thousands of shareholders and a world-class team. Visit us on the web at www.fabuniversal.com; email us at firstname.lastname@example.org.
Forward-looking Statements” as defined in the Private Securities litigation Reform Act of 1995 may be included in some of the information or materials made available on this website. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our change in business strategy towards more heavy reliance upon on our new talent segment and wholesale channels, actions of regulators (either in the US or China) concerning our business operations or trading markets for our securities, the extent to which we are able to develop new services and markets for our services, our significant reliance on third parties to distribute our content, and the level of demand and market acceptance of our services.