Business
Network Entertainment Announces Expanded Role of its President and COO as Development Activities Expand
(via TheNewswire) VANCOUVER, CANADA / TheNewswire / May 24, 2017 - Network Media ...
About this update from Network Media Group Inc.
[{"type":"text","content":"Network Entertainment Announces Expanded Role of its President and COO as Development Activities Expand(via TheNewswire)\n\n \nVANCOUVER, CANADA / TheNewswire / May 24, 2017 - Network Media Group Inc. (TSX: NTE.V) and Network Entertainment Inc. (\"Network\" or \"the Company\") is pleased to announce that, following the popular and critical acclaim of the Company's \"I Am Heath Ledger\", which was showcased at the Tribeca Film Festival in April 2017 and had its World Premiere on Spike TV on May 17th, Network's portfolio of successful \"I Am\" feature documentaries has expanded to eight films distributed globally with two more currently in production. \n\n\n \nIn recognition of the success of the \"I Am\" brand and to maximize commercial potential of Network's original productions, the Company is pleased to announce the responsibilities of Network's President and COO, Paul Gertz, have been expanded to include Studio Head of Development. In this role, Paul's primary responsibility is to ensure the Company's development activities are strategically focused and designed to capitalize on the accelerating interest from the world's leading broadcasters and distributors in Network's quality work.\n\n\n \nDerik Murray, CEO and Founder of Network, notes \"Paul's leadership over the last year, in response to increased demand for premium content and interest shown for Network's documentaries and documentary series, has resulted in a robust slate of development properties with approximately 20 projects being presented to buyers, 8 of which are Iconic documentaries and 12 of which are television series.\"\n\n\n \nReflecting on the Company's development and production strategy, Paul Gertz explains \"Network's practice is to not greenlight a production until partners have been selected and(or) funds equal to a production's budget are sourced and committed. The amount of funds invested at the development stage depends on costs to acquire rights and develop the specific concept, including an assessment of its commercial viability.\"\n\n\n \nRobert Pirooz, Network's Executive Chair, adds \"Over the last couple of years the Company has committed to and invested in a disciplined process to not only develop projects on an ongoing basis, but build an inventory of projects and demonstrate that a significant and predictable number will be greenlit and fi...