Source: PRNewswire
By: Company Press Release
BARCELONA, Spain., Oct. 27 /PRNewswire/ — Private Media Group Inc. (Nasdaq: PRVT – news), a leader in high-class adult entertainment products and services since 1965 and the first such company trading on the National Nasdaq Market, today announced that its joint venture with General Media Communications (“Penthouse”) for the production of a series of adult movie productions has officially commenced in Paris. Directed by the highly talented and aesthetically aware Antonio Adamo, this first movie co-production will be filmed in the French capital as well as Budapest, Hungary, and is set for release in February 2000.
As previously announced on August 9, 1999, the historic Agreement calls for Private and Penthouse to work together to launch a new video and DVD adult line which will be created and produced by Private Media Group. Private will produce the films in two different versions, both ‘hard’ and ‘soft,’ to suit the markets where the films will be distributed. The films will be shot with multi-angle cameras, enabling the release of each title in ‘non-broadcast’ formats such as VHS and DVD, and utilizing digital technology suitable for ‘broadcast media’ such as cable television. Private will own the copyrights to all the films, subject to certain licenses granted to Penthouse.
Director Antonio Adamo was born in Naples and has infused his work to date with artistic flair and attention to cinematic detail. An admirer of the work of renowned film directors such as Alfred Hitchcock, Stanley Kubrick, David Cronenberg and David Lynch, Adamo began his career doing audio-visual work with local and national television stations before progressing to the production of news, sports reports, fashion and documentary films. Working in the adult industry since 1997, his association with Private Media Group began in October of this year with the release of the widely acclaimed ‘Sex Shot’ (PBL 09), and this will be followed by the December release of ‘Devil In The Flesh’ (PBL 10). “I do not believe I am the only one who has felt that the adult movie sector was lacking some fresh air,” he recently told an interviewer. Adamo will bring all his cinematic talents and experience to bear in the new co-production.
As also previously announced, the joint venture films will be distributed worldwide by both Private and Penthouse through their respective distribution networks, with Private having exclusive rights to distribute the ‘hard’ versions in all formats throughout the world, together with the exclusive rights to distribute the ‘soft’ versions in all formats in the United Kingdom. Penthouse will handle worldwide distribution of the ‘soft’ versions, with the exception of the United Kingdom. Private and Penthouse will share total net revenue equally from each production.
Included in the unique pact is a Mail Order provision that conforms to the ‘hard’ and ‘soft’ distribution rights as defined, and which will ensure that the new product range will be in a position to maximize sales revenues through traditional outlets as well as the Internet. In addition, the Agreement provides for promotion of the new titles on each company’s websites, among the largest and most reputable in the adult industry, and incorporates extensive publicity for such releases through both the Private and Penthouse magazine titles.
Private Media Group Inc. commenced operations in 1965. Its primary business activities today include the creation, refinement and delivery of proprietary Internet sites and the licensing of its library content and brand name for Internet sites; the acquisition, refinement and delivery of adult feature products, including unrated and adult feature DVDs, magazines, videos, and CD-Roms; the distribution and licensing of Private’s total proprietary product range on the Internet, including DVDs, magazines, videos, interactive services and the Private Circle fashion line; the licensing of its internationally reputable brand name for product lines, including adult novelty product ranges such as Private Collection; the production and control of distribution rights to its Private Dynamite energy drink; and TV Home Shopping for Private’s proprietary and licensed products.
For more information, visit the Company’s corporate website at www. prvt.com.
This release contains, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1934, as amended, which reflect the Company’s current judgments of those issues. However, because those statements are forward-looking and apply to future events, they are subject to such risks and uncertainties, which could lead to results materially different than anticipated by the Company.
SOURCE: Private Media Group Inc
