Business
Mother Goose leads active Cannes Market for Hannover House
Mother Goose leads active Cannes Market for Hannover House.
About this update from Hannover House, Inc.
[{"type":"text","content":"As a first-time exhibitor at the Cannes Film Festival and Marche du Film, Hannover House, Inc. (OTC: HHSE), closed deals for over $6.2-million in sales, pre-sales and co-productions, the company reported. The upcoming fantasy adventure, \"Mother Goose: Journey to Utopia\" was by far the company's most active title, with additional sales and offers received for \"The Legend of Belle Starr,\" the new acquisition of \"Black-Eyed Dog,\" and from a wide range of territorial licenses received for a listing of ten catalog titles from Hannover House.\n \nTerritorial sales were made with France, Italy, Spain and the United Kingdom, with additional offers and opportunities being contemplated for Japan, South Korea, Russia, China and Australia-New Zealand. Co-production funding commitments and incentives have been accepted for production expenditures in Louisiana and the Republic of Ireland. Potential equity investments have been offered, but not yet accepted by Hannover House, from media investors in Dubai and China. Additionally, major bank lenders specializing in the monetization of international pre-sales and \"gap\" funding have approached the company about banking the \"Mother Goose\" project.\n \n\"The successful results already generated at Cannes are very exciting for the company and our shareholders,\" said Fred Shefte, President of Hannover House. \"To generate close to double our annual revenues in one week here demonstrates the viability of our parallel path approach to the world media market for independent films. As we continue to build our core business in the lower-budgeted realm of direct-to-video releases for the U.S. market, the addition of major theatrical locomotives to drive our schedule is clearly working. There are major revenues to be achieved with these high-profile titles, and the international markets can in many cases exceed our U.S. results,\" he concluded.\n \nIn addition to generating sales on the Hannover House and Medallion properties, some exciting acquisition activities for the U.S. operations were also initiated and completed at Cannes. Last week, Hannover House closed the first major acquisition deal of the market with the North American pre-sale agreement for \"Within Screaming Distance.\" The $5-million dollar thriller was written by legendary writer Joseph Stefan...