Business
International Star Inc. Acquires 20% Stake in Hollywood-Based B Studios, Continues Strategic Expansion in Cannabis-Themed Entertainment
International Star Inc. Acquires 20% Stake in Hollywood-Based B Studios, Continues Strategic Expansion in Cannabis-Themed Entertainment.
About this update from International Star, Inc.
[{"type":"text","content":"LOS ANGELES, CA / ACCESSWIRE / September 11, 2023 / International Star Inc. (OTC PINK:ILST) today announced a new strategic investment to secure a 20% stake in B Studios, a new film production company.This investment is part of a carefully calculated corporate strategy, following ILST's prior acquisition of Budding Equity and the involvement of Budding Equity's CEO, Dan Rubin as an executive producer in the movie "All My Friends Are Dead."ILST's investment in B Studios signals the next phase in the company's ongoing efforts to lead the IP business in the realm of cannabis-focused entertainment.Further details of the transaction will be announced at a later date.Dan Rubin, CEO of Budding Equity, an ILST's wholly-owned subsidiary and the executive in charge of the transaction, emphasized the strategic alignment, stating that "Our investment in B Studios not only allows us to diversify but also to manage a holistic portfolio of intellectual properties in the cannabis space. It's a synergistic approach that will undoubtedly create more value for our shareholders."Through this investment, International Star aims to utilize its expertise in the cannabis and entertainment sectors to accelerate B Studios' current and future projects. The objective is to fast-track these initiatives to market, seizing revenue opportunities while fortifying ILST's competitive edge.ILST's strategic focus on celebrity partnerships and intellectual properties (IPs) has led to the development and management of distinctive brands. These brands include Ice Cube's Good Day and Fryday cannabis lines; Kevin Smith's Snoogens, Berzerker, and Snoochie Boochies offerings; Jay and Silent Bob accessories; as well as collaborations with Paramount's Cheech and Chong Up in Smoke, Sony's Pineapple Express, and Trailer Park Boyz.Recently, ILST has shifted from relying solely on third-party IP to creating its own, granting more control over products and fostering innovation. This shift enhances its market position and competitive edge.Forward-Looking StatementsThis press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "inten...