NEWS: First Miracle Makes First-Look Deal With Jean-Claude Van Damme's
Long Road Films; Van Damme Joins First Miracle's Board of Directors
LOS ANGELES, Jun 24, 1999 (ENTERTAINMENT WIRE via COMTEX) --
FirstMiracle Group (OTC BB:MVEE) has entered into a three-year
first-look development deal with Jean-Claude Van Damme's Long Road
Films, it was announced Thursday by Tony Cataldo, chief executive
officer.
Van Damme will also join First Miracle's board of directors, effective
immediately.
Under the terms of the deal, First Miracle receives 50 percent of Long
Road's interest in three completed Van Damme films and first right of
refusal on the other projects currently in development at Long Road
Films. The projects will be co-owned and co-produced by First Miracle
and Long Road Films, with all worldwide revenues generated under the
agreement to be shared on a 50/50 basis between the two entities.
The completed films are: "Universal Soldier, The Return," the sequel to
Van Damme's 1992 hit film "Universal Solider," which will be released
by Sony Pictures in September; "Inferno," directed by Academy Award
winner John G. Avildsen ("Rocky," "Rocky V" and "The Karate Kid 1-3"),
which recently completed principle photography; and "Legionnaire,"
starring Van Damme as a professional boxer who joins the French Foreign
Legion in order to escape the mob, which is currently available on
video.
"We are pleased to have this opportunity to work with Jean-Claude Van
Damme, one of the world's best known and loved action heroes, on his
upcoming projects, including the much anticipated sequel to 'Universal
Soldier,'" said Cataldo. "First Miracle's mandate is to secure high
profile scripts with top talent attached, so today's agreement with
Long Road Films is representative of that effort.
"We are also particularly excited by his decision to join our board of
directors, which we view as a real vote of confidence in our business
strategy and a great opportunity to increase the visibility of our
management team."
Added Van Damme: "I am delighted to have this opportunity to work in
tandem with First Miracle's team and in particular with Tony, who I
believe is building the studio of the future, a company that can
provide an infrastructure to support the technology explosion happening
all around us."
First Miracle Group is an independent and diversified film company with
a unique corporate structure based on strategic and exclusive alliances
with high quality content producers, including Long Road Films and
Emmett/Furla Films. First Miracle Group is a publicly traded company.
Copyright (C) 1999 Business Wire. All rights reserved.
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