MSH Entertainment Corporation Restructures Business and Attracts New Management
NEW YORK, Oct. 13 /PRNewswire/ -- MSH Entertainment Corporation announced today that it has appointed a new CEO, David Pritchard. Pritchard has already begun to focus MSH's strategic direction to take advantage of the growing opportunities resulting from the accelerated shift toward the worldwide digital distribution of content and the rapid evolution of digital technologies.
"The new MSH," according to Pritchard, "is based on many of the classic Wall Street Investment Banking structures. The overall corporate architecture will have content and technology executives accountable for attracting and nurturing business concepts and entertainment franchises that will be analyzed by a committee of executives to assess that business on its technology and entertainment value in the changing marketplace. If the Committee approves a business or franchise opportunity, the Company shall apply its executive, strategic distribution, and financing relationships to enable the business to grow and maximize profits." Pritchard continued, "The key here is to find those projects that can be exploited over three, four or more distribution platforms and has true cross-media franchise value."
Redefining themselves as an "entertainment enabler," MSH will provide advisory services, interim-management, and interim-financing (of a limited nature) to a select handful of existing, as well as start-up companies. By charging fees for these services, as well as requiring an equity interest in the clients' business, MSH will build shareholder value with a portfolio of equity holdings in a key growth segment of the entertainment industry and generate cash flow by charging advisory and managerial services and from collecting distribution fees in traditional and new media agreements negotiated on behalf of clients.
"We have recently begun proving this business model through our recent reorganization of MSH's investment interests in AGE away from a corporate transaction, into specific franchise opportunities in AGE projects such as: Essential Reality, Max 2 Kids, and Vanpires. Each of these projects has been reorganized by AGE, MSH, and their financial and distribution partners, so that each project has been set up as a distinct company with separate management and separate financial reporting and has been capitalized as an off balance sheet entity with outside strategic and financing partners.
According to Chairman and founder Robert Maerz, "MSH equity has grown nicely over the last year and the prospects are very positive for the future. We are in the process of duplicating this formula with several significant franchise projects that the Company has been nurturing in the last several months."
To measure and enhance the value of existing businesses and understand the full potential of a property's capabilities, great management is needed. "Within the reorganization of MSH, Bob Maerz and I have been able to attract a first stage of advisory personnel with extensive backgrounds and histories of success in their respective industries," according to Pritchard. Pritchard comes out of his recent position of President and CEO of Film Roman, where he won Emmys for "The Simpsons" and "King of the Hill". Prior to Film Roman, Pritchard was an Independent Producer and founder of Popular Arts Entertainment, where he produced and developed programs for HBO, Comedy Central, CBS, A&E and was awarded an Emmy for "Dr. Katz, Licensed Therapist" and also created and produced one of the first Interactive Channels, GOtv for US West on the TimeWarner, Full Service Network.
In addition to Pritchard, Jeremiah Chechik, Rudy Langlais, and Lisa Eisenpresser have joined MSH as Advisors. Chechik is a highly-regarded Film Director ("Benny and Joon", "Diabolique") and a proven Internet entrepreneur as a founder of Intertainer, a leading Internet broadband programming service. Langlais is a highly-regarded film producer ("The Hurricane", "Sugar Hill") and former editor of SPIN magazine. Eisenpresser is one of the leading new media executives with a decade of experience as an executive at iXL, Brilliant Digital Entertainment, and Time Warner Interactive.
In the last week Maerz and Pritchard have initiated a Private Placement of a Preferred Stock Offering. The Company is seeking to raise several million dollars to revitalize the Company and jumpstart the new strategic initiative. "Depending on the rate of closing the Preferred Financing, management plans to conclude several pending deals with new projects along the lines discussed above." Pritchard concluded, "Bob and I believe we have developed a smart new strategic direction and assembled a great management team. And with a reasonable infusion of new capital we can re-invigorate the operating side of MSH and begin to generate operating results that will lead to appreciable shareholder valuations."
MSH also invites interested investors and shareholders to its website at www.mshe.com to see the bios of its new advisory management team and its new Frequently Asked Question section.
This news release includes certain statements that may be considered forward-looking under the Private Securities Litigation Reform Act of 1995, including new strategies from which the Company might derive revenues in the future. These statements are subject to a number of important risks and uncertainties that could cause the contemplated transaction never to occur.
SOURCE MSH Entertainment Corporation
CO: MSH Entertainment Corporation
ST: New York
IN: ENT
SU: PER RCN |
