Seven Arts Entertainment And Sixteen19 Announce Deal With CBS Sports For Production Work At Its New Facility At 807 Esplanade Avenue In New Orleans
LOS ANGELES, Jan. 29, 2013 /PRNewswire/ -- Seven Arts Entertainment Inc. (NASDAQ: SAPX) ("Seven Arts" or the "Company") announced today that its affiliate, Seven Arts Filmed Entertainment Louisiana LLC ("SAFELA"), in conjunction with its previously announced joint venture partner Sixteen19, has entered into an agreement with CBS Sports for space at 807 Esplanade ("Property") to provide production support for this year's big game to be held on February 4 th in New Orleans. This follows on the heels of the recently wrapped Weinstein Company picture "Ransom" which was also housed at the Property throughout December and January.
SAFELA and Sixteen19 have agreed to lease six units at the Property to a major production starting this week and running through June of this year. This deal will result in a guaranteed sixty percent occupancy at the Property for the next five months.
As has been previously announced, the Company intends to operate a full-service production and post-production facility at the Property through the joint venture between Sixteen19 and SAFELA.
Seven Arts' COO Kate Hoffman stated: "We are thrilled with the initial industry response to our new space in New Orleans. We are extremely proud of the reaction of these prestigious companies to the aesthetic and technical superiority of our new facility and trust this is a sign of the success to come."Managing Partner at Sixteen19, Pete Conlin, stated, "2013 will be a very busy year for production in Louisiana and especially New Orleans. The facility at 807 Esplanade offers the world class level of service that Hollywood producers demand." About Seven Arts Entertainment Inc.:Seven Arts Entertainment Inc. is the successor to Seven Arts Pictures Plc, which was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television. About Sixteen19Sixteen19 is a global production services company specializing in digitally acquired productions. They have offices in New York, London and Los Angeles. Their creative division has won 10 Emmy Awards for commercial and promotional editorial. They have worked on such movies as Men in Black 3, Taken 2 and Twilight: Breaking Dawn Part 1 and Part 2 Cautionary Information Regarding Forward-Looking Statements.Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated. The information contained in this release is as of January 29, 2013. Seven Arts assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments. Contact:
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