Audio Book Publisher Pursues Classic Movie Series17 Jul, 2003 By: Hive News
Audio book publisher Americana Publishing, Inc. expects to double the expected operating earnings of recently launched subsidiary Americana Entertainment, Ltd. (AEL) , could double its earnings with acquisitions of home video rights to classic movie series' that it is seeking from a handful of studios.
AEL consists of two divisions, a video/DVD distribution division that it intends to contract with both major and independent studios to distribute classic movie series through its well-established, national retail network and a movie production arm. The production division will be responsible for films within the $1.5 million to $6 million budget range, primarily based on successful books it has already published.
"Based on our expectations the video/DVD division will provide us with expanded distribution capabilities with new product offerings to many of the retail outlets we currently deal with in our audio book publishing business," said Americana chairman and CEO George Lovato, Jr. "We anticipate providing these new products to such retail giants like WalMart and Sam's Club."
The company expects the video/DVD distribution division up and running with a completed product catalog within 90 days, Lovato said.
"We're also currently reviewing scripts and we expect, when completely funded, to produce our first feature movie within six to nine months," Lovato added. "We're projecting three productions within the next 12 to 18 months."
Americana Publishing, Inc. has 350 book titles and aims to cross the 400 mark by year-end. The company sells via the Internet, nearly 30,000 retail stores, 5,000 libraries and major truck stop distributors. The Company also has a growing print book division and just launched a film production and distribution division, Americana Entertainment, Ltd.
The new entity, when completely funded, could generate operating earnings equaling its core audio book publishing business within the next 12 to18 months.