BTN - BTN STOCK NEWS

Ballantyne Strong, Inc. (NYSE American: BTN) has launched Strong Studios under its Strong Entertainment division, naming David Ozer, former CEO of Landmark Studio Group, as its president. The new studio will focus on developing original content and has secured a distribution agreement with Chicken Soup for the Soul Entertainment for two greenlit series: Safehaven and Flagrant. Production is set to begin in mid-2022, with a strategic approach to minimize financial risk while expanding the company's media footprint.

Ballantyne Strong's subsidiary, STRONG Technical Services, has successfully completed the sale and installation of 38 projection systems for Showplace Entertainment across three locations in Indiana. This project was finalized in January 2022, overcoming supply chain challenges and timing constraints during the busy holiday period. Senior executives expressed gratitude for the partnership and highlighted the swift, comprehensive solution delivered to enhance viewing experiences for customers.

Ballantyne Strong has acquired a 43,000+ square foot building and 11+ acres of land in Alpharetta, Georgia, which serves as its Digital Ignition technology incubator. This strategic move aims to reduce operating costs and enhance visibility in the rapidly growing Georgia 400 Technology Corridor. The property is located near significant developments like the luxury Halcyon complex and features a new access road to improve commuter access. This acquisition is projected to bolster the company's presence in the area and support the local entrepreneurial community.

STRONG/MDI Screen Systems, a subsidiary of Ballantyne Strong (NYSE American: BTN), has successfully delivered the world's tallest IMAX screen, measuring 76 feet 2 inches, to Royal Cinemas in Pooler, Georgia. The screen will be showcased in a specialized 363-seat auditorium featuring advanced IMAX with Laser technology, enhancing image brightness, resolution, and audio quality. This development is anticipated to elevate the movie-going experience for audiences, with the venue expected to open by the end of February 2022.

Ballantyne Strong's subsidiary, STRONG/MDI Screen Systems, has secured an exclusive supply agreement with AMC Theatres, the largest cinema chain globally. This partnership aims to enhance the moviegoing experience across AMC's more than 10,000 screens by providing premium projection screens. Executives from both companies expressed confidence in the collaboration, emphasizing the importance of screen quality to cinema audiences. This long-term relationship is positioned to solidify STRONG/MDI’s role as a leader in cinema screen technology.

Ballantyne Strong's subsidiary, STRONG Technical Services, has renewed its managed service agreement with Marcus Theatres for 2023. The contract includes 24/7 monitoring, technical support, and maintenance for over 1,000 screens, showcasing a robust partnership. Executives from both companies emphasized their commitment to customer service and high-quality support. This extension enhances STRONG Technical Services' market position in the cinema sector, amid ongoing challenges from the COVID-19 pandemic affecting the industry.

Ballantyne Strong (NYSE American: BTN) announced the confidential submission of a draft registration statement on Form S-1 to the SEC for a proposed initial public offering (IPO) of common shares of its subsidiary, Strong Global Entertainment. Key details such as the number of shares and price range remain to be determined. The IPO is anticipated to occur post-SEC review, subject to market conditions. This press release complies with Rule 135 under the Securities Act, and no securities offering will occur before SEC registration.

Ballantyne Strong reported strong third-quarter results for 2021, showcasing a recovery in its entertainment segment post-COVID. The Company achieved a consolidated net income of $7.1 million ($0.38 per share), an improvement from a loss in the previous year. Service revenues surged by 42.7%, driven by increased demand in cinema. Additionally, a significant investment of $8.3 million in GreenFirst Forest Products boosted shareholding, realizing an $8.4 million unrealized gain. The Company also noted improved gross profit margins, reflecting enhanced operational efficiency.

Ballantyne Strong (NYSE American: BTN) will release its third-quarter financial results on November 10, 2021, after market close. A conference call is scheduled for the same day at 5:00 PM ET, which can be accessed via webcast or phone. The company operates across various industries, with a focus on entertainment and digital advertising. Notably, Ballantyne holds a $13 million preferred stake in Firefly Systems and a 9% stake in GreenFirst Forest Products Inc., enhancing its portfolio in digital mobile advertising and the forestry sector.