Based in Munich, Germany, Atlas is one of the oldest independent film sales agents in Europe. The Memorandum of Understanding for the all stock based deal was announced in July 2013.
Manu Kumaran, Chairman of Medient, commented, “Over the past 46 years, Atlas has built a solid reputation for sales and film finance. We are particularly excited about the upcoming European Film Market that accompanies the Berlinale Film Festival, where Atlas will present our new slate of movies. Atlas also has a library of over 250 titles, which will be aggressively sold at the European Film Market.”
Philipp Menz, President of Atlas, commented, “We are proud to be part of a truly inspired team at Medient and this partnership will add a critical component to the scaling up of the company into a global player in the entertainment marketplace.”
Mr. Kumaran added, “I want to underline the fact that Medient continues to deliver on its promises, and this acquisition provides elements essential to the creation of a vertically integrated ‘insourced’
ABOUT ATLAS INTERNATIONAL
Atlas international Film GmbH (www.atlasfilm.com)
ABOUT MEDIENT STUDIOS
Medient Studios, Inc. (OTCQB: MDNT) (www.medient.com)
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