VANCOUVER, BC / ACCESSWIRE / May 8, 2014 / Gener8 Media Corp. (CSE: GNR) ("Gener8" or the "Company"), a leader in 3D film conversion and data management software solutions for the entertainment industry, announced today it has signed a 3D conversion contract for The Grandmaster, a film produced by Hong-Kong-based Jet Tone Films, Annapurna Pictures and co-produced by Beijing-based Bona Film Group Limited (NASDAQ: BONA).
Originally released in 2013, The Grandmaster is the story of martial arts master Ip Man, who later trained Bruce Lee. The film was directed and written by Wong Kar-Wai and stars Tony Leung as Ip Man. It was nominated for Best Cinematography (Philippe Le Sourd) and Best Costume Design (William Chang Suk Ping) at the 2014 Academy Awards.
"Our proposed partnership between Gener8's stereoscopic 3D conversion division and FFD will provide Gener8 with the capital and economies of scale to further develop our 3D conversion services and gain increased access to film producers and movie goers in China," said Rory Armes, founder and CEO of Gener8. "We are thrilled to convert the Academy Award nominated film, The Grandmaster."
"We had originally planned to film The Grandmaster in 3D not only for the cinematic sensation, but also for the subtlety of the expression of this beautiful story." said Director Wong Kar Wai. "By partnering with Bona Film Group and the innovation of Gener8 we now have the opportunity to show the film as it was always intended - searching for a brand new aesthetic or cinematic language in the 3D format."
Gener8's unique conversion technology solution has earned the company a top-tier client roster that includes some of Hollywood's biggest studios: Warner Bros. Entertainment, 20th Century Fox, Columbia Pictures Industries, Legendary Entertainment, Marvel Studios, Sony Pictures Entertainment, and more. The company's most recent 3D conversion, 300: Rise of an Empire, has earned accolades for its stunning 3D effects. Gener8, which currently has over 200 staff, continues to expand its operations.
According to Paul Becker, Gener8 Executive Producer, "The Grandmaster is an amazing story by a filmmaker known around the world. We are excited to enhance its beauty and to work with Wong Kar Wai. The film's pace and look lends itself to a stylistic 3D, and we are happy to release a top-shelf conversion for Chinese audiences."
The film, currently slated for the second half of 2014, will be distributed by Bona Film Group Limited, which was also involved in the distribution of the original 2D version of the film in mainland China in early 2013, where it generated approximately RMB 300 million of box office revenue domestically.
Gener8 Media Corp. is a media technology company led by a team of gaming industry veterans. At the forefront of postproduction, the Company earned its stripes by developing a proprietary 3D conversion technology, garnering high-profile credits including "300: Rise of a Empire," "The Amazing Spider-Man," "Prometheus" and "Harry Potter." Gener8 is expanding into offering visual effects services and a cloud-based data analytics solution called Cumul8. With its focus on developing disruptive solutions that combine design and technology, Gener8 also retains a majority interest in Reelhouse Media Ltd., an online entertainment distribution start-up. Gener8's head office is located in Vancouver, British Columbia and currently employs over 200 staff. Visit the company website at www.gener8.com.
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Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. In particular, forward-looking statements in this press release. Although Gener8 believes that the expectations reflected in the forward-looking statements are reasonable; there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, risks with respect to: meeting our contractual timelines and milestones on our 3D film conversion contracts; general economic conditions in Canada and globally; film industry conditions; competition for, among other things, capital and skilled personnel; changes in economic and market conditions that could lead to reduced spending on 3D film conversion; potential delays or changes in plans with respect to deployment of services or capital expenditures; our ability to hire and retain qualified employees and key management personnel; possibility that government policies or laws may change; amount and timing of operating costs and capital expenditures; the success of certain business combinations engaged in by the Company or by its competitors; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to acquisitions and international expansion; reliance on large customers; reliance on a limited number of suppliers; risks related to the Company's competition; the Company's failure to adequately protect its intellectual property; interruption or failure of information technology systems; the risk that the transaction may not be completed as planned, or at all; and business, legal and/or regulatory risks relating to Gener8's business, financings and strategic acquisitions. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE: Gener8 Media Corp.