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Regency Resources Appoints Senior Content Acquisition ExecutiveVeteran of Home Entertainment Video Sector Brings Licensing Expertise to Launch of Digital Distributor (April 18, 2012)
LOS ANGELES, CA -- (Marketwire) -- 04/18/12 -- Regency Resources, Inc. (OTCBB: RSRS) ("Regency" or the "Company"), a development stage media based company aiming to offer an in-depth portfolio of content for Internet TV distribution, is very pleased to announce the appointment of Mr. Bruce Venezia to the position of Vice President, Content Acquisition.
Mr. Venezia's career spans 30 years in the sourcing, negotiating and licensing of independent programming for the home entertainment market. His responsibilities will include working with content owners to solidify relationships, identify synergies and opportunities in order to ultimately unlock significant value from key video and media libraries.
Martin W. Greenwald, CEO of Regency Resources, stated, "Bruce worked with me at Image Entertainment, which is being acquired by Robert Johnson, the founder of BET Network. While at Image, Bruce oversaw the licensing of well over 10,000 titles during our years in the laserdisc and DVD environments." Mr. Greenwald continues, "Bruce is extraordinarily talented and a well-respected member of the entertainment community. He will be responsible for identifying the best-of-breed in content and to deliver that product to the world of internet TV on behalf of our clients. I am delighted to welcome Bruce to our growing family of superstars!"
Regarding his appointment, Mr. Venezia commented, "The internet TV space is even more exciting than my years in the packaged media world. Through Internet TV, we have the capability to reach a worldwide audience faster and more efficiently than ever before. My challenge will be to work closely with content providers to identify meaningful and significant programming. I plan to help build a world-class management team able to help identify and secure the hidden treasures I know are out there just waiting to be discovered. Success in that area will drive the Company's rapid expansion and shareholder value.
"During my tenure at Image Entertainment," said Mr. Venezia, "I had the opportunity to work with many entertainment industry luminaries and we licensed literally thousands of titles. Some that stand out on the music front were, 'Cher: The Farewell Tour,' 'The Who' Live, Mariah Carey, The Rolling Stones, and Kiss. Comedic projects included the licenses for several Jamie Foxx programs, The Blue Collar Comedians, and Pee Wee Herman. We also released feature films starring Tommy Lee Jones, Jennifer Aniston, Helen Hunt, Kevin Costner, Alec Baldwin and others. Image had a great repertoire of documentaries including programming from the Discovery Channel, IMAX and Werner Herzog. We plan to propel those kinds of results into this new and exciting digital medium."
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.regencyresources.com.
About Regency Resources (OTCBB: RSRS)
Regency Resources is a development stage company. Through a merger with Digitally Distributed Acquisition Corporation ("DDAC") the Company seeks to build a media business using proprietary technologies and close industry relationships to develop a broad-based and varied portfolio of content for Internet TV distribution. Regency's business model is to share revenues with the content owners and provide 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.regencyresources.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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