BEIJING, Nov. 25 /PRNewswire-Asia-FirstCall/ -- XFMedia (Nasdaq: XFML), a leading media group in China, today announced that its subsidiary, Xinhua Media Entertainment (XME) is unveiling its initial expected film slate for the next three years. It represents the Company's long term commitment to showcase Chinese culture, top Chinese talents, artisans and production crews on the global stage through major collaborations with premier filmmakers, screenwriters, and producers from Hollywood.
China is the fastest growing major theatrical market in the world with 1.6 new movie screens being added everyday and consistent box office volume growth at a 5-year compound annual growth rate ("CAGR") of over 30%. In comparison, the 5-year CAGR of well-developed markets such as the U.S. and Japan is either flat or negative.
Since launching in April 2008, XME has aggregated a slate of projects intended to be produced as official co-productions between the leading film companies in China, including China Film Group Corporation, and premier producers in Hollywood. All films will be produced in accordance with the requirements of the regulators including the State Administration Radio Film and Television (SARFT).
"We are thrilled to announce our film slate, which differentiates us from our competitors as each film has the potential to become a global blockbuster. This is consistent with our focus on expanding our sports and entertainment programming," said Fredy Bush, CEO of XFMedia. "We believe our upwardly mobile target demographic will welcome such high quality programs."
With the in-depth understanding of and relationships with key players in both China and Hollywood, XME has a unique ability to competitively identify, develop, structure and execute China-U.S. film co-productions that share with a global audience a side of Chinese culture unseen before.
"We want to show the mainstream global audience that the Chinese film industry can do more than just period martial art films," said David U. Lee, Managing Director of Xinhua Media Entertainment.
XME Film Slate
BULLET RUN -- An international non-stop action thriller from producers Jon Shestack (AIR FORCE ONE, FIREWALL), Max Wong, and Karen Firestone, to be shot in the most exotic and never-before-seen locations in China.
"China is a beautiful country with astounding scenery and architecture. It will be great to shoot a movie there," said Jon Shestack.
THE CAGE -- A martial arts action thriller from producer Casey Silver and writer John Fusco of THE FORBIDDEN KINGDOM, which is the most profitable China-U.S. co-production in history.
"I'm thrilled to do another co-production in China," said Casey Silver.
THE HUNTED -- A suspense thriller from producer Steve Squillante (SHANGHAI, WITCHBLADE), noted action and thriller director David R. Ellis (FINAL DESTINATION 2 & 4, SNAKES ON A PLANE, CELLULAR), and veteran suspense writers The Hayes Brothers, (WHITEOUT, THE REAPING, HOUSE OF WAX), film will be the first ever China-U.S. co-production shot in 3-D.
"Our entire team is excited about being the first China-U.S. co-production to be shot in 3D and having the opportunity to work with XME on this very unique and gripping thriller," said Steve Squillante.
HIGH STAKES -- A high concept action thriller from producers Matthew Rhodes (PASSENGERS, SOUTHLAND TALES), Keri Selig (THE STEPFORD WIVES) and Kia Jam (LUCKY NUMBER SLEVIN), present the first China-U.S. co-production to lens in Las Vegas, Macau, and the Guangdong region.
"We eagerly look forward to co-producing this project in China," said Matthew Rhodes, Kia Jam and Keri Selig.
MULAN -- A live-action epic based on the world's most well known Chinese classic tale, from producer Steve Waterman (CASPER, STUART LITTLE 1 & 2, and ALVIN AND THE CHIPMUNKS) to be shot entirely in China.
"There is only one place to shoot a live-action version of Mulan - China," said Steve Waterman.
Xinhua Media Entertainment, a subsidiary of XFMedia, is a leading film entertainment company dedicated to producing high-profile movies between China and Hollywood. It provides a full range of production and deal structuring services and is one of the cornerstones of XFMedia's push into the fast-growing China entertainment industry.
About XFMedia
Xinhua Finance Media ("XFMedia"; Nasdaq: XFML) is a leading media group in China with nationwide access to the upwardly mobile demographic. Through its synergistic business groups, Broadcast, Print and Advertising, XFMedia offers a total solution empowering clients at every stage of the media process and connecting them with their target audience. Its unique platform covers a wide range of media assets, including television, radio, newspaper, magazine, outdoor, online and other media assets.
Headquartered in Beijing, the company has offices and affiliates in major cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. For more information, please visit http://www.xfmedia.cn .
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, quotations from management in this announcement contain forward-looking statements. Statements that are not historical facts, including statements about XFMedia's beliefs and expectations are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statements. Potential risks and uncertainties include, but are not limited to, risks outlined in XFMedia's filings with the U.S. Securities and Exchange Commission, including its annual report on Form -20-F. All information provided in this press release is as of the date hereof, and XFMedia undertakes no duty to update such information, except as required under applicable law.
For more information, please contact:
Media Contact
Joy Tsang
XFMedia
Tel: +86-21-6113-5999
Email: joy.tsang@xfmedia.cn
Lindsay Koval
AGG International
Tel: +1-212-614-4170
Email: lindsay@aggintl.com
IR Contact
Edward Liu
XFMedia
Tel: +86-21-6113-5978
Email: edward.liu@xfmedia.cn
Howard Gostfrand
American Capital Ventures
Tel: +1-305-918-7000; Toll Free +1-877-918-0774
Email: info@amcapventures.com
