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Digidev Group Inks Deal to Launch Classic and Silent Feature Films OnlineMemo of Understanding Creates Opportunity to Digitize Film Preservation Library (May 17, 2012)
LOS ANGELES, CA -- (Marketwire) -- 05/17/12 -- Digital Development Group Corp. (OTCBB: DIDG) ("Digidev," "Digidev Group" or the "Company"), a development stage company aiming to offer an in-depth portfolio of content for Internet TV distribution, is pleased to announce the signing of a Memorandum of Understanding ("MOU") as a step towards signing a licensing agreement that will provide access to a culturally significant body of silent and classic cinematography including legendary titles and performances from the "golden era of film."
The agreement was reached with David H. Shepard, a noted archivist and film preservationist who has spent a significant portion of his career amassing a catalogue of extraordinary and exceptionally restored feature films from the early years of world cinema. He is a major influence on the archival film movement in the United States for the past 45 years. He spent thirty-four years teaching cinema at a number of prestigious university institutions and then as special projects officer of the Directors Guild of America for twelve years. He co-produced the Academy-Award winning "Precious Images" (released in 1986) and several other films as well as documentaries for commercial and public television. Additionally, he has managed the theatre and archive departments of The American Film Institute, and served as Vice President of Blackhawk Films. Since 1983, David has been a voting member of the Academy of Motion Picture Arts and Sciences, and he enjoys an impressive list of awards honoring his exceptional career achievements.
Mr. Shepard states, "Releasing film classics in a technology never even dreamed of when these films were produced is very exciting. Digidev's commitment to launch both a Silent Classic channel as well as a Classic channel will expose the Internet universe to the gems of world cinema. I have known some of the senior people at Digidev for decades and they share my passion."
Digidev is targeting the rapidly expanding and revolutionary OTT technology arena in order to facilitate the online delivery of movies, games & apps to millions of desktops, mobile and smart TV devices around the World. "OTT" or Over-The-Top Home Entertainment Media targets DVD players, video game consoles, mobile products and Smart TVs with built-in Internet connectivity. These devices piggyback on existing network services in consumers' homes or offices, pull content from the Internet and deliver it to their TV set or display unit. It's referred to as "over-the-top" because the service rides "on top" of the Internet connection subscribers already use.
Using Digidev's innovative proprietary technology, content providers will be able to reach previously "un-reachable" audiences with an easy to use, multi-purpose platform resulting in the ultimate engagement connecting a rapidly exploding audience of new online viewers to a vast network of content owners, developers and producers.
Martin W. Greenwald, CEO of Digidev, adds, "David Shepard has amassed an extraordinary library of classic films dating back almost 100 years. Bringing these titles to the OTT Internet space will give millions of people worldwide the opportunity to share and enjoy these treasures. I am so pleased that David has entered into this agreement with Digidev. Our goal is to secure a diverse roster of interesting and truly great programming for this exciting new consumer technology and The Film Preservation Associates library is a very welcome addition."
Expanded details of the Company's plans and approach are now available online at www.digidevgroup.com where more information will be posted as it becomes available. The Company urges interested readers to visit the website to find out more, and to ensure you stay abreast of any and all breaking news as it happens, we invite you to take advantage of the free "news alert" subscription service available on the website.
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit our website at: www.digidevgroup.com.
About Digital Development Group Corp. (OTCBB: DIDG)
Digidev Group, formerly Regency Resources, Inc. (OTCBB: RSRS) is a development stage company. The Company is building a digital media business using proprietary technologies and close industry relationships to develop a broad-based and varied portfolio of content for Internet TV distribution. Digidev's business model is to share revenues with the content owners and to provide a variety of unique monetization methods. According to industry research by iDate this market sector is expected to grow tenfold from its current $400 million in revenues to $4 Billion in 2016. Visit us at www.digidevgroup.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, reference to new technologies, software and sales methods as well as financial projections for the size of the internet TV market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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