Sony Pictures, Starz Encore Group, & Fox Entertainment Group Are Investors in $3 Billion Slate

SANTA MONICA, CA --(June 6, 2000)-- Joe Roth, four months after resigning as Walt Disney Studios Chairman, has unveiled Revolution Studios, a media company focusing on motion picture production and Internet content development.

Roth said, "It's a dream come true to have the financing to produce my own slate of pictures over the next six years. Being partnered with three of the premier media companies in the world, Sony Pictures, Starz Encore Group and Fox Entertainment Group, as both investors and distributors, is a great compliment and comfort. I look forward to working with Howard Stringer, John Calley and his group at Sony, John Sie and his team at Starz Encore, and Peter Chernin and his team at Fox."

"Joe is truly one of a kind. He's produced and directed films as well as run studios with extraordinary success," said John Calley, chairman and chief executive officer, Sony Pictures Entertainment. "Joe's also a wonderful friend and has been an exceptional partner in the projects we shared while he was at Disney. We feel that he'll be an outstanding member of the Sony family."

"When Joe left Disney, John and I saw a rare business opportunity and went after it," commented Howard Stringer, chairman and CEO, Sony Corporation of America. "It isn't often that you get the chance to be involved with the creation of a new studio. Revolution offers us a brilliant merger of talent and opportunity to invest and partner with Joe."

"Joe's track record of producing some of the highest grossing and highest profile films year in and year out made his studio an ideal partner for us," said John J. Sie, founder, chairman and CEO of Starz Encore. "We are elated to be part of his new venture, especially since we've been working with Joe since the start of STARZ! This investment epitomizes our commitment to major theatrical motion pictures, which continue to be the core of pay TV customer appeal. We're looking forward to receiving exclusive, new pictures soon from Joe, all theatrically released by Sony Pictures."

Sie emphasized that the pictures are in addition to Starz Encore's recently-signed, multi-year output deal with Sony Pictures and also noted that the Revolution Studios deal includes full subscription video on demand (S-VOD) rights.

"Fox is very fortunate to have teamed up with Joe Roth, an exceptional film maker whose name is synonymous with success in the industry," said Peter Chernin, president and chief operating officer of Fox Entertainment Group. "Joe's staple of high quality, high profile films is a perfect fit for the Fox network, cable group and domestic syndication business and we look forward to working with him."

Revolution Studios will produce a minimum of 36 films over the next 6 years and will own the negatives of the pictures. Sony will distribute the movies theatrically and in home video in North America. Starz Encore will receive domestic pay-TV rights and use the films on its 12-channel Super Pak of digital, commercial-free movie channels. Fox has acquired all other U.S. television rights and will make them available on the Fox Network, the Fox Cable Networks and in syndication. Internationally, Sony will handle distribution in all media in all major territories except Germany and Japan, where Senator Films (Germany) and Toho-Towa (Japan) will distribute. Pony Canyon will distribute home video in Japan.

Rob Moore and Todd Garner have been brought on board as equity partners to assist Roth in managing the company. Before joining Revolution Studios, Rob Moore was the executive vice president operations & finance for Walt Disney Studios. Garner was co-president of the Walt Disney Motion Picture Group.

During Moore's 13-year career at Disney, he was instrumental in putting together numerous strategic relationships for the studio including Disney's output agreement with Pixar Animation Studios, the acquisition of Miramax Films and the financing/production agreement with Spyglass Entertainment. Moore said, "We are creating an entertainment company that can support talent in developing content for all media which has received $3 billion in commitments from our worldwide partners to ensure we can seize any opportunity."

At Disney, Garner supervised such hits as "Waterboy," "Nothing to Lose," "Deuce Bigalow," "Con Air," and the upcoming "Gone in 60 Seconds" and "Pearl Harbor." Garner said, "I am thrilled to be part of this truly revolutionary company. We have the financial, marketing and production strength of a major studio in an environment, which focuses on talent and provides creative freedom. What could be better?"

Roth said, "We are incredibly fortunate to have Rob and Todd anchor this company -- not only did they do great work at Disney, but the fact that we all worked together for five-plus years makes our jobs that much easier. I expect us to make an eclectic array of high and low budgeted commercial films to encompass everything from "Pearl Harbor" to "Deuce Bigalow". Along with the ongoing relationship with Julia Roberts and her Shoelace Productions, as well as Jack Giarraputo, Adam Sandler and their Happy Madison Company, we have about 25 properties already in development."

The company has acquired a controlling interest in Mediatrip.com, which will serve as the in-house Internet arm of Revolution Studios both for the promotion of the slate of movies and the development of on-line comedy properties for off-line exploitation in movies and television. Austin Harrison, Mediatrip's CEO, is expected to announce several major talent affiliations with the Internet service immediately.

John Hegeman, formerly head of marketing/acquisitions for Artisan Entertainment and best known for the Internet marketing effort on "Blair Witch," will also consult Revolution Studios on the Internet marketing of its films. Distant Corners Entertainment Group, an on-line horror, sci-fi and fantasy media company founded by Hegeman and Roth, will remain outside Revolution Studios. Revolution will have first opportunity to turn on-line properties into movies and TV programs in its genre.

Revolution Studios is not affiliated with Revolution Films, which Mark Ezralow continues to operate as an independent film and Internet production company.

Revolution's first production, "Tomcats", starts shooting June 5. It stars Jerry O'Connell, Shannon Elizabeth and Jake Busey.

Revolution Studios is located in Santa Monica, California.

SOURCE Starz Encore

CO: Starz Encore; Revolution Studios; Sony Pictures; Fox Entertainment Group; Distant Corners Entertainment Group; Fox Cable Networks; Senator Films; Toho-Towa;

ST: California, Colorado, Germany, Japan

 

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