Iwerks Joins Sony to Distribute the Classics.BURBANK, Calif.--(BUSINESS WIRE)--Oct. 18, 1999-- Exclusive Agreement Calls for Iwerks/Sony Pictures Classics Partnership to Distribute 8/70 Versions of Four Large Format Films Iwerks Entertainment Iwerks Entertainment was founded in 1985 by Stan Kinsey and Don Iwerks, two former Disney Executives, and became well known through 1996 as a leading developer of special venue and virtual reality theaters throughout the world. (Nasdaq:IWRK), an international leader in high-tech entertainment attractions, has reached an agreement with Sony Pictures Classics to become the exclusive distributor of 8/70 film format versions of four prominent Large Format films. Of the four films, "Across the Sea of Time" (3D/2D), "Wings of Courage" (3D/2D), and "Cirque du Soleil Cirque du Soleil (French for "Circus of the Sun") is an entertainment empire based in Montreal, Quebec, Canada and founded in Baie-Saint-Paul in 1984 by two former street performers, Guy Laliberté and Daniel Gauthier. (TM) Journey of Man" (2D/3D) (though, not currently available in 3D) have never before been available to exhibitors in the fast-growing 8/70 format. "Thrill Ride: The Science of Fun" (2D) is the fourth film that falls under the agreement. Each of these films feature excellent content and production quality and will allow Iwerks' clients' Giant Screen theatres the opportunity to provide additional entertainment opportunities to their customers. These films will be featured at Iwerks' flagship Extreme Screen theatres and others around the world. "This agreement marks another significant step in the industry's recognition of 8/70 as an important component in the Large Format world," said Charles Goldwater, Iwerks' President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The availability of these and other quality films in the 8/70 format will provide incremental revenue opportunities to filmmakers and producers. Iwerks' distribution of these films to the 8/70 market is a demonstration of our commitment to continue contributing to the growth of the Giant Screen industry as a whole." "Across the Sea of Time," written by Andrew Gellis, tells the story of an eleven-year-old Russian boy's trip to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. to see a world he has only experienced through the stereocard pictures sent to his family by an ancestor who had moved to America at the turn of the century. The film was directed by Stephen Low, one of the industry's most respected filmmakers. "Wings of Courage," written by Alain Godard and Jean-Jacques Annaud, is the story of a treacherous flight through the Andes Cordillera cor·dil·le·ra n. An extensive chain of mountains or mountain ranges, especially the principal mountain system of a continent. [Spanish, from cordilla, diminutive of cuerda, cord mountain range, where mountains peak at 21,000 feet. Two legendary French aviation pioneers recruit Henri Guillaumet Henri Guillaumet (29 May 1902 at Bouy, near Châlons-en-Champagne - 27 November 1940 in the Mediterranean) was a French aviator. He was a pioneer of French aviation in the Andes, the South Atlantic and the north Atlantic. to make the mail trip after learning of his flying exploits. Directed by Academy Award(R) winner Jean-Jacques Annaud, "Wings" stars Val Kilmer, Elizabeth McGovern and Craig Sheffer. "Thrill Ride: The Science of Fun" takes viewers through the history of roller coasters While there have been hundreds of different roller coasters built, there have been just a few that were notable for specific reasons. Some reasons include:
"Cirque du Soleil(TM) Journey of Man" provides stunning visuals of the legendary troupe as the story follows a mystical journey through the stages for man. Shot in exotic locales such as the redwood forests of Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern and the Brandenburg Gate Brandenburg Gate The only remaining town gate of Berlin, it is located at the western end of the avenue Unter den Linden. Carl G. Langhans (1732–1808), who built the gate (1789–93), modeled it after the propylaeum of the Athenian Acropolis. in Berlin, the film features all of the elements of a live Cirque du Soleil show, including music, acts and atmosphere. Directed by Keith Melton and written by Steve Roberts
"We are very pleased to make these pictures available in the growing 8/70 format," said Derval Whelan, Sony Pictures Classics' Executive Director, Sales. "To partner with Iwerks, who has a proven track record of distribution success, will open up new markets for our films and continue to expose larger audiences to the wonder of Large Format film." Since its inception 5 1/2 years ago, Sony Pictures Classics Large Format has been a leader in the distribution and marketing of large-format films, setting new standards in the industry with films such as Wings of Courage, Across the Sea of Time, Thrill Ride: The Science of Fun, Mark Twain's America and the upcoming Cirque du Soleil(TM) Journey of Man. To fulfill the growing needs of the marketplace, as well as the expanding international network of large format theaters, Sony Pictures Classics Large Format strives to offer groundbreaking product that combines entertainment and education to enhance both commercial and institutional theater programming. Sony Pictures Classics Large Format is a department of Sony Pictures Classics, an autonomous division of Sony Pictures Entertainment. Iwerks Entertainment, Inc., founded in 1986, is one of the world's leading full-service providers of high-tech entertainment systems, support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services and film-based software in Giant Screen, ride simulation and specialty venue attractions. More than 250 Iwerks attractions, including Iwerks Extreme Screen(TM) theatres and Iwerks Turbo Ride(TM) simulators, can be found in 38 countries worldwide at location-based entertainment centers, amusement parts, movie theaters, family entertainment centers, shopping centers, casinos, resorts, nightclubs, restaurants, museums, fairs, festivals and more. Visit Iwerks Entertainment on the World Wide Web at www.iwerks.com. This release contains statements that constitute "forward-looking statements" within the meaning of Section 21E of the Exchange Act and Section 27A of the Securities Act. The stockholders of Iwerks are cautioned not to put undue reliance on such forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected in this release resulting from the following reasons (among others): the impact of the ongoing economic conditions and situation in the Asia Pacific region and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , the level of available sales in the rest of the world, the timing of sales and deliveries under existing contracts, costs of sales and the ability of the company to maintain pricing levels necessary to maintain gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. , the level of selling, general and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. , the performance by the company under existing purchase contracts and the ability to obtain new contacts, the success of the company's owned and operating strategy, the success of the company's film software and the effects of competition. In addition, the company's shareholders are urged to carefully review the risk factors discussed in the documents the company files from time to time with the Securities and Exchange Commission. Note to editors: For this company's past press releases, go to http://www.businesswire.com/cnn/iwrk.htm. |
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