New book by Larry Connors Click here Improve your trading - See how
Sep 11, 2008 -- Seven Arts Pictures plc (OTCBB: SAPXF | Quote | Chart | News | PowerRating) announced the opening of Seven Arts Pictures Louisiana, a production and post-production facility recently purchased in the city of New Orleans for $1,700,000. The company announced earlier today the completion of the certification from the State of Louisiana that the company's capital expenditures and expenses for this new production and post-production facility totaling approximately $9 million will be subject to the 40% refundable Louisiana Film Infrastructure Tax Credit. The company expects to finance these credits in the near future and will realize proceeds from the discount or sale of these credits of approximately $2.75 million. The new facility is located at 807 Esplanade and has opened in time to complete the production of Night of the Demons, a new film that will be announced shortly and which is expected to be completed by June 30, 2009. Financing of the new facility comes from a 7 year note for $3,750,000 secured by the newly acquired property. A majority of the note will be repaid from the proceeds of the federal and state tax credits. Peter Hoffman, CEO of Seven Arts commented on the transaction, "The opening of Seven Arts Louisiana at 807 Esplanade will reduce our production and post-production costs on our upcoming movies such as Night of the Demons significantly, and the $2,750,000 cash value of the tax credits granted to Seven Arts will finance our production, distribution, and capital costs as well as provide tax incentives for other post production clients of Seven Arts. This leaves us well positioned to provide these services to Seven Arts and other filmmakers at competitive tax incentivized rates that are at the same time highly profitable to Seven Arts." Seven Arts will offer extensive film post-production services supported by state-of-the-art technology and professional expertise. The Studio will offer unrivaled post production service, in luxurious first class surroundings and undisturbed comfort. As previously announced today, the company has received Louisiana Motion Picture Investor Tax Credit certification for up to $7,000,000 of costs including the $1,500,000 acquisition of the property and $1,000,000 of post production equipment as well as up to $4,500,000 of distribution costs for Seven Arts film projects. The company anticipates that 807 Esplanade will be open for initial operations in October and ready in time for post-production of "Night of the Demons", a Seven Arts Pictures film scheduled for completion by June 30, 2009.
Sep 11, 2008 -- Peace Arch Entertainment Group Inc. (AMEX: PAE), an integrated global entertainment company, announced today that it has acquired all distribution rights worldwide (excluding most of Africa, France and European French language territories) to the gripping crime drama series "The Line." Production of "The Line" is underway in Canada, with half of the first season's 15 one-hour episodes now in post-production. Peace Arch will unveil the hard-hitting series at MIPCOM, the international television market that takes place in Cannes, France from October 13-17, where the series will premiere to worldwide buyers of television, pay television and new media content. In "The Line," in the upside-down chaos of a neighborhood drug war, the personal lives of unethical cops and uncommon criminals become interwoven as they all struggle with the line between good and evil. John Flock, President and COO of Peace Arch Entertainment Group, said, "This outstanding series represents the quality programming we are now pursuing as we focus additional resources on the opportunities in global television. 'The Line' is distinctive as a police drama in that there are no criminal investigations or crimes actually solved. We anticipate that this style of intersecting, multiple storylines, along with the terrific ensemble cast, will generate strong interest among international and U.S. buyers of television content." "The Line" will premiere as "The Weight" in spring 2009 on the Canadian pay television networks Movie Central (Western Canada) and The Movie Network (Eastern Canada), with Canadian English language rights reverting to Peace Arch following the pay television license windows.
Sep 11, 2008 -- MainConcept GmbH, a wholly-owned subsidiary of DivX, Inc. (NASDAQ: DIVX | Quote | Chart | News | PowerRating) and one of the world's leading providers of video and audio codecs, as well as software development kits to the broadcast, film and consumer electronic markets, today announced a new version of Codec SDK 7.6 that adds support for DivX video technology. As a concise package for Windows, Mac/Intel and Linux, the Cross Platform SDK 7.6 provides a broad range of codecs including DivX, H.264, MPEG-2, DVCPRO HD, JPEG 2000, AAC and HE- AAC. With the new release, professional software developers in the broadcast industry are now able to seamlessly integrate DivX into their own solutions, creating video files compatible with over 100 million DivX Certified devices shipped to the market from major manufacturers, including DVD players, digital televisions, mobile devices and more. "There are a number of different DivX Certified devices such as DVD players and mobile phones in the market which support this exciting format," says Muzaffer Beygirci, Managing Director and VP Worldwide Sales at MainConcept. "In addition, DivX continues to expand into new product categories. With MainConcept's SDK 7.6 and its new DivX support, we will enable broadcasters and professionals to support one of the world's leading video formats and provide true interoperability from the PC to the living room and mobile environments."
Sep 11, 2008 -- Disney.com (NYSE: DIS), the No. 1 ranked kids entertainment and family community destination on the Web, again broke records this summer with new site traffic and "time spent online" records in August. Last month the Disney Online network of sites scored more than 32.3 million unique visitors according to comScore Media Metrix, beating the most recent site record set in June by more than two million unique visitors and representing a 26 percent increase over the prior year. Features recently added to the site such as new "Games," "Video," "Character" and "My Page" portals contributed to the milestones. Other drivers included entertainment events and content based on Disney Channel and Disney music properties as well as a user-generated content promotion, U Rock the Summer on Disney.com.' "Our focus on online entertainment is clearly driving success," stated Paul Yanover, executive vice president and general manager, Disney Online. "We are excited to see engagement around our new video, games, community and character portals as well as user-generated events like U Rock the Summer.'" Disney Online also set new all-time records in August in total time spent on the site and total visits with more than 1.7 billion total minutes spent on Disney Online in August besting the site's previous record set in July by 16 percent and representing a 55 percent increase over the prior year.
Market Wrap for September 11th, 2008
Trading has been marked by uncertainty during recent sessions and Thursday was no exception. The uncertainty prompted the major indices to open sharply lower as jittery traders fretted over financial stocks and a lack of leadership. Financials were down more than 4% in the early going as participants placed heavy selling pressure on investment banks and brokerages (-4.6%). Investors pushed the group aside amid continued concerns regarding the future of Lehman Brothers (LEH 4.22, -3.03). Shares of LEH were downgraded this morning by a few Wall Street firms. However, word from The Wall Street Journal that Bank of America (BAC 33.06, +0.66) is in talks to buy Lehman prompted a last minute upward push in the sector. Though the financial sector spent most of the session facing losses, it was able to close 1.7% higher. Most of the session was marked by a lack of convincing leadership, which led to choppy trading. Still, the stock market turned an early loss of 1.7% into a 1.5% gain. All ten of the economic sectors opened lower, but nine managed to finish with a gain as the late financial rally pulled just about everything higher into the close. Stocks also seemed to move more independently of oil prices during the session. Crude futures spent virtually the entire session in the red, extending their downturn, slipping more than 1.5% to close below $101 per barrel. Crude has not been below the $100 mark in over five months. The decline in oil prices helped oil and gas refiners (+8.3%). Refiners are benefiting from wider crack spreads, effectively the difference between prices paid for crude and the prices charged for consumable fuels, as well as tighter supplies as they take their operations offline amid hurricane threats. Uninspiring economic data gave investors little incentive to move into stocks in the early-going. Initial jobless claims for the week ended Sept. 6 declined 6,000 to 445,000. Claims were slightly ahead of the consensus estimate. Meanwhile, continuing claims rose by more than 100,000 to 3.525 million from the prior week, reflecting a softening labor market. Meanwhile, the July trade deficit widened $62.2 billion from the prior month, surpassing the $58.0 billion deficit that was widely expected. The trade deficit figures received little attention, though the trend in the real (price adjusted) trade deficit continues to suggest they will support third quarter.
ABOUT INVESTSOURCE, INC.: WIN an 8 day 7 nights Caribbean Getaway, GO TO: www.investsourceinc.com.
To hear "The Fastest 60 Seconds in the Small-Cap Market," please go to www.ceo-corner.com This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation to buy or sell securities. InvestSource, Inc. has prepared all material herein based upon information believed to be reliable. The information contained herein is not guaranteed by InvestSource, Inc. to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this release have not given an opinion or approved the statements made in this release.
InvestSource, Inc. is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. InvestSource, Inc. affiliates, officers, directors and employees may also have bought, or may buy the shares discussed in this opinion and may profit in the event of a rise in value. InvestSource, Inc. will not advise as to when it decides to sell and does not, and will not, offer any opinion as to when others should buy or sell; each investor must make that decision based on his or her judgment of the market. Please consult your broker before purchasing or selling any securities mentioned herein. InvestSource has agreed to be compensated 16,800 unrestricted shares of SAPXF for services rendered. To view full disclaimers, please go to http://investsourceinc.com/content/disclaimer.php (disclaimers).
CONTACT: InvestSource, Inc WWW: http://www.investsourceinc.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
