Legend Films Secures $1 Million in Financing Led By PAR Capital Management.Business Editors SAN DIEGO--(BUSINESS WIRE)--Nov. 24, 2003 Legend Films, a studio specializing in restoring and colorizing classic films, today announced it has secured $1 million in Series B financing, led by Boston-based investment fund, PAR Capital Management, Inc. Proceeds will be used for corporate expansion and the continued enhancement of Legend Films' proprietary colorization col·or·i·za·tion n. A computer-assisted process by which color is imparted to black-and-white film. technology. PAR Capital also made a prior investment in Legend Films of $2 million in February 2003. Headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Legend restores and colorizes classic films for DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. , HDTV (High Definition TV) A set of digital television (DTV) standards that offer the highest resolution and sharpest picture. Although some HDTV sets are available in standard (rather square) screen sizes, the overwhelming majority of sets are wide screen, which eliminates and theatrical release. Legend's proprietary new digital technology allows video to be colored in high definition and film resolution, and provides a never-before-seen richness of color not of the white race; - commonly meaning, esp. in the United States, of negro blood, pure or mixed. See also: Color . Legend is also a leader in providing high-end color special effects special effects, in motion pictures, cinematographic techniques that create illusions in the audience's minds as well as the illusions created using these techniques. for new feature films. "We are pleased to have a sophisticated media and entertainment investor like PAR Capital as a shareholder of Legend," said David G. Martin, Chief Executive Officer, Legend Films. "This financing is expected to contribute to a strong slate of DVD releases by the company in 2004." "Legend continues to pioneer film colorization and we welcome the opportunity to provide additional funding to the company," said Edward Shapiro, Partner, PAR Capital Management. "Legend has an impressive management team, whose expertise extends beyond colorization technology to video retailing and large-scale production management. We see significant opportunities for further growth." Legend's current DVD releases include A Christmas Wish, a classic Christmas movie starring Jimmy Durante, and Seabiscuit -- The Lost Documentary, an original documentary made in 1939 by Seabiscuit's owner Charles Howard. Both films are restored and in color for the first time. Legend has distribution agreements with Twentieth Century Fox Home Video and Hart Sharp Video. Newton, Cottle & Westenhaver served as legal counsel for Legend Films. Goodwin Procter LLP LLP - Lower Layer Protocol acted as legal counsel for PAR Capital Management. About Legend Films Founded in 2001, Legend Films is the leader in color effects for feature films. Using a patented 48-bit full color technology, Legend is the only studio capable of coloring at high definition and film resolutions. Legend Films' corporate headquarters is based in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. . More information on Legend is available at www.legendfilms.net. |
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