RegalWorks Media, an independent multimedia studio initially focused on
feature film production, has entered into a binding Letter of Intent (“LOI”) to
acquire transmedia production company, Working Element.
“Working Element brings revenue generating media assets that increase
shareholder value,” RegalWorks chairman and CEO Dane West stated in the news
release. “Their product management approach to transmedia production is a
strong fit with our own model, a critical consideration as we add complementary
assets and skillsets we can easily integrate. Expanding into video game and
interactive media production augments our current focus of delivering feature
films and is central to executing our transmedia strategy. When a great
opportunity like Working Element comes along, it allows us to execute more
elements of our core business strategy.”
Working Element has built a strong intellectual property portfolio
through partnership agreements with global media companies such as MGM, Random
House, and CBS. Among Working Element’s incredible 44-title portfolio is Brian
Jacques’ fantasy novel series “Redwall,” which has sold more than 30 million
copies worldwide, as well as digital and interactive rights to “Star Trek” and
“Stargate”; others will be announced at a later date.
In 2013, Working Element completed development of the first two episodes
of “Stargate SG-1: Unleashed.” Based on MGM’s “Stargate SG-1″ series, the
episodic adventure game for mobile devices reunites original cast members
Richard Dean Anderson, Michael Shanks, Amanda Tapping, and Christopher Judge.
Marketing campaigns for the episodes will begin following the closing of the
acquisition by RegalWorks.
“The transaction with RegalWorks will bring us additional capital and
expertise to seize the many business opportunities we have identified over the
past several years,” said Darren Thomas, president of Working Element. “We
could not be more excited about joining their team to accelerate the timing and
maximize the revenue potential from each of our properties.”
The transaction is expected to close by March 2014. Terms of the deal
were not disclosed.
For more information visit www.regalworks.com
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