This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Camelot Acquires Liberation Film Library

UNIVERSAL CITY, Calif., May 4, 2010 (GLOBE NEWSWIRE) -- Camelot Entertainment Group, Inc. (OTCBB:CMGR) ("Camelot") announced today that it has acquired the assets of Liberation Entertainment, Inc. ("Liberation"), including 750 of Liberation's 888 title film library initially, with the potential to add 138 more titles once title issues are cleared. In a deal valued between $3,900,000 and $4,430,000, Camelot Film Group, Inc., a wholly owned subsidiary of Camelot, picked up an eclectic library comprised of titles encompassing a wide-range of genres in film and television spanning a period of more than 40 years, including such titles as the "Wolverine and X-Men" animated series, the "Peter Gunn" television series, the original " House on Sorority Row" and the original " Frost/Nixon" interviews. The marketing and sale of the library titles worldwide will be managed by Camelot Distribution Group, led by President of Distribution Jamie Thompson.

"This acquisition represents a big step forward for Camelot and the implementation of our business model, especially with our ongoing focus on acquiring and distributing independent films," stated Camelot Chairman Robert P. Atwell. "In 2009, this library generated in excess of $5,000,000 in gross revenue for Liberation. Even though 2010 year to date revenue numbers are minimal due to the recent inactivity of Liberation, with our highly motivated distribution team working with film and television buyers both domestically and internationally, we are confident that we will be able to maximize revenues not only for Camelot and our stockholders, but for our producing partners in the library as well."

Camelot paid cash and issued shares of its common and preferred stock to complete the acquisition, which is the first of four planned acquisitions Camelot has slated, with negotiations for two more distribution companies and a post production facility currently ongoing.

"We are also excited about the possibility of expanding the revenue potential of this library through the extension of rights and acquiring additional rights to the titles as we move forward," Mr. Atwell stated. "This library fits perfectly into our expansion plans for Camelot Distribution Group in part due to the wide variety of content which spans many different genres. We believe this library eventually has the potential to exceed all of our expectations."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs