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Seven Arts and GFM Films Announce Acquisition of "Yellow"(November 08, 2011)
HOLLYWOOD, CA -- (Marketwire) -- 11/08/11 -- Seven Arts Entertainment Inc. (NASDAQ: SAPX) ("Seven Arts") and GFM Films LLC ("GFM") announced today that their joint venture for film distribution, which was formally launched at the 2011 Cannes Film Festival, has made its first acquisition. Peter Hoffman of Seven Arts and Michael Ryan of GFM negotiated the terms with Manu Kumaran of Medient for acquisition of worldwide rights to Nick Cassavetes' new feature "Yellow." The film has completed shooting and will be ready for release in the spring of 2012.
In the tradition of Cassavetes' previous festival favourites, "Alpha Dog" and "She's So Lovely," "Yellow" is a dark comedy about a young woman who comes to terms with her family's shadowed past. The ensemble cast features Sienna Miller, Melanie Griffith, Gena Rowlands, Ray Liotta and a breakout performance by Heather Wahlquist. Seven Arts and GFM expect the film to premiere at a major film festival next year.
Peter Hoffman, CEO of Seven Arts, commented, "We are thrilled to be in business with a proven exceptional talent such as Nick Cassavetes. We hope this will be the first of several projects with Manu and his team."
Michael Ryan, Partner of GFM, added, "I'm delighted to be collaborating with the Cassavetes family again, having worked on so many of John's movies in the past. Nick has assembled a wonderful cast and continues to work his magic in this remarkable production."
Manu Kumaran of Medient commented, "Nick Cassavetes is not only a brilliant story teller but is also a filmmaker who is very aware of the society around him. 'Yellow' is classic Nick -- funny, warm, poignant and a social comment all at once. Medient could not have found better partners than Seven Arts and GFM Films to distribute the film."
About Seven Arts: Seven Arts Entertainment Inc. is the successor to Seven Arts Pictures Plc, which was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.
About GFM: GFM formed prior to the Cannes Film Festival in 2011 and re-unites Guy Collins, Fred Hedman and Michael Ryan in a film development, production, financing and sales company. The three executives are former key members of the management team at Handmade Films International.
About Medient: Medient is one of the fastest growing film production companies to emerge out of India. Established in 2001, in a decade of its existence, Medient has produced 17 films, in 4 languages and now operates in the world's key media markets of North America, Europe and India.
Cautionary Information Regarding Forward-Looking Statements: Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.
Seven Arts Entertainment Inc. US contact:
Seven Arts Entertainment Inc. UK contact:
GFM Films LLC contact:
+44 20 7186 6300
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