Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : 1st Miracle Group (MVEE) Facts Thread -- Ignore unavailable to you. Want to Upgrade?

To: Capitalism who wrote (13)	8/3/1998 6:31:00 PM
From: Capitalism	Respond to of 257

From CNNfN, June 10, 1998; 6:14 EST GUESTS: Menahem Golan, Yorum Globus, First Miracle Entertainment (OTC:BB MVEE) BEVERLY SCHUCH, CNNfn ANCHOR, BIZ BUZZ: Now we'll get to my two guests, who together have made over 300 films such as "Missing in Action", "Cobra". John Claude Van-Damme's career they take credit for as well, and they're here to talk about some of their new ventures. Menahem Golan and Yorum Globus of it's called Magic Entertainment. Thank you for being here. Now when you made those 300 films or so that was under Cannon Productions? YORUM GLOBUS, CO-CEO, MAGIC ENTERTAINMENT: It was under Cannon and underGolan Globus Production and a few umbrellas. SCHUCH: Now in the research I read it said that you made a very - you were well received again in Cannes this year, at the film festival as a return. What does it mean, a return? You had left the business/. GLOBUS: We didn't leave the business. We split it up for 9 years. We "divorced" us after making between us almost 300 movies and after nine years we agreed both together we're stronger, wiser and we can serve the industry better. SCHUCH: So, now you're back together and the production company is called Magic Entertainment and this is your company?. GLOBUS: It is a subsidiary of a public company which is First Miracle Picture. SCHUCH: All right, now your genre is action films. MENAHEM GOLAN, CO-CEO, MAGIC ENTERTAINMENT: Our genre diversifies. We have a family picture we're going to produce. We have two action pictures. You know, not to disappoint our distributors around the world and basically we are coming back with four pictures all produced - being produced this summer. One a teenager, as you just said, a teenage film, and we are happy to come back. SCHUCH: Why do you like action pictures so much? GOLAN: Because the world audience likes action pictures. SCHUCH: Aren't they more cost intensive though because of the blow up scenes and the things you have to do? GOLAN: No. Not at all. We are producing a low budget picture which was between $1 million to $10 million and we are entertaining the world. People who are coming from work and they are tired and they don't want to think -- don't want to see an intellectual movie, they live to relax and see an action packed movie and we are supplying that. SCHUCH: Now how have your pictures done in the past of those 300. GOLAN: Some of them did very good. Some of them good and some were flops like the usual in the business. SCHUCH: What was the flop for you? GOLAN: Flop was a picture we like very much that we shot in '85 "Otthelo" directed by Franco Zeffirelli starring Placido Domingo. We love it and we thought we're going to make many operas and we opened the picture and it was a flop, complete fiasco and so we didn't do anymore operas. GLOBUS: It means not enough public for it although it was a very good film. SCHUCH: Yes. More sellers than buyers. After 300 films is there a way that you can determine? GOLAN: Yes, to keep the budget tight and to make a quality film, whether it is action, whether it is any other genre and to work towards the youth audience. SCHUCH: So that is your target audience, is young people who have a lot of disposable income to spend as well. GOLAN: The first movie we start in July is "Speedway Junky" and it stars Darryl Hannah and we are going into it and it is - we are proud to say we are associated with Gus Van Sant, you know the director of "Good Will Hunting". SCHUCH: Gus Van Sant. GOLAN: Gus Van Sant, sorry and he is the executive producer of the project and this is a pure teenage film. SCHUCH: Now these are the first films you've made under your new label now. So, we have no record of your profits and successes. GOLAN: We just got together. SCHUCH: And this film will be released, when? GLOBUS: Probably next Easter. SCHUCH: And this is a low budget between $1 and $10 million film. Why does Gus Van Sant want to go from making "Good Will Hunting", Oscar winning movie to doing this. GLOBUS: Well, he liked the director who came from Sundance Festival and he liked the project and he liked the script and basically he initiated it and we are very proud to be associated with him. SCHUCH: All right. Well, best of luck in your new venture. It's a long partnership I hope you have a lot more successful films. Thanks for joining us very much Menahem Golan and Yorum Globus. Thank you. GLOBUS: Thank you. GOLAN: Thank you very much. Content and programming copyright 1998 Cable News Network