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The Movie Studio, Inc. Receives Payment for Six (6) Motion Pictures of Nineteen (19) Picture License Agreement to the Territory of Italy Until 2023 From Pre-Sale Agreement From 2016 69th Cannes Film Festival
The Movie Studio, Inc. Receives Payment for Six (6) Motion Pictures of Nineteen (19) Picture License Agreement to the Territory of Italy Until 2023 From Pre-Sale Agreement From 2016 69th Cannes Film Festival.
About this update from The Movie Studio, Inc.
[{"type":"text","content":"\n \n \n The Movie Studio, Inc. Receives Payment for Six (6) Motion Pictures of Nineteen (19) Picture License Agreement to the Territory of Italy Until 2023 From Pre-Sale Agreement From 2016 69th Cannes Film Festival\n \n \nThe Movie Studio, Inc. Receives Payment for Six (6) Motion Pictures of Nineteen (19) Picture License Agreement to the Territory of Italy Until 2023 From Pre-Sale Agreement From 2016 69th Cannes Film Festival\n \n HALLANDALE BEACH, FL--(Marketwired - Sep 28, 2016) - The Movie Studio, Inc. (OTC PINK: MVES) (\"TMS\" or the \"Company\"), www.TheMovieStudio.com is pleased to announce the receipt of initial payment and execution of an agreement to license six (6) of the nineteen films (19) scheduled for immediate delivery of its majority and wholly owned feature films to the territory of Italy until 2023.\n The pre-sale agreement(s) were executed by The Movie Studio, Inc. at the 69th Cannes Film Festival in May of this year and was effectuated upon the Company's receipt of initial payment for the first six (6) films.\n These movies have been released theatrically by such major studios as Twentieth Century Fox, Paramount, Sony Pictures, New Line Cinema, and Lionsgate prior to The Movie Studio adding the films to its library of motion pictures. \n The Movie Studio expects to have completed the agreement by delivering the films and receiving full payment of the minimum guarantee due to the Company based on the agreement without trailing revenues within the next 30 days and cumulative revenues derived from the licensing of these assets are to be released in the Company's next annual report. \n \"The Movie Studio is extremely excited about licensing quality motion picture titles to new available territories, re-licensing existing territories and new Video On Demand (VOD) platforms.\" \n \"We continue to establish worldwide distribution agreements leveraging our strategy of growth by acquisition of existing films and bundling of new films for distribution which can increase shareholder equity and residual net asset value (NAV) while hedging negative NAV impact. We are excited about our newest motion picture distribution partner in Italy and look forward to a long term relationship.\" Gordon Scott Venters President and CEO announced today.\n About The Movie Studio Inc.\n The Movie Studio, Inc. is a vertically integrated m...