Strong Studios Acquires Global Worldwide Distribution Rights for its Original Series "Safehaven"
Ravenwood-Productions LLC Invests in Series
CHARLOTTE, N.C., July 13, 2023 (GLOBE NEWSWIRE) -- Strong Global Entertainment, Inc. (NYSE American: SGE, the “Company”) today announced that its subsidiary, Strong Studios, Inc. (“Strong Studios”) (Safehaven, Flagrant, Inside the Black Box), has acquired the worldwide distribution rights for its original series Safehaven from Screen Media Ventures, LLC, a division of Chicken Soup for The Soul Entertainment, Inc. Additionally, the Company announced that Ravenwood-Productions LLC (“Ravenwood”) has made an investment to acquire an ownership stake of Safehaven.
Mark Roberson, Chief Executive Officer of Strong Global Entertainment commented, “We are excited about bringing Safehaven to the public and are ramping up the sales and marketing process with potential buyers. The monetization of a portion of the intellectual property is an important validation of the quality of the series and improves the overall economics for Strong Studios related to the future success of the series.”
“We are thrilled that Ravenwood shares our confidence and vision for the series. We look forward to working closely with them to bring Safehaven to the global market,” said David Ozer, President of Strong Studios.
As part of this transaction, the parties have agreed to enter into a sales agent agreement with William Morris Endeavor Agency to market the series.
Further details on the transaction may be found in the Company’s form 8-K filed with the SEC July 7, 2023.
About Safehaven
Safehaven was created by James Seale (30 Below, Throttle) who serves as showrunner. The 10 episode series stars Georgie Murphy (Christmas by the Book) and Gino Anania (Skymed, The Porter, Kiss Before Christmas), along with the multi-award-winning Bob Frazer (Drinkwater, The Cannon, Finding Mr. Right, Girlfriend Experience, The X-Files).
Safehaven tells the story of high school comic artist Jenna Frost (Murphy), who must uncover the truth after horrifying visions come to life from her creations, threatening to destroy everything around her. John Rayburn (Frazer) is the mysterious new school counselor determined to save her, even if it endangers both of their lives and unearths his own personal demons. Complicating matters is Will (Anania), a passionate young man committed to protecting Jenna, who finds herself torn between rejecting his help and her growing feelings for him.
About Strong Studios
Strong Studios, headquartered in New York, NY, is a subsidiary of Strong Global Entertainment, Inc. (NYSE American: SGE). Strong Studios develops and produces original feature films and television series, as well as acquires third party rights to content for global multi-platform distribution. The studio launched in March 2022 with the production of Safehaven and Strong Studios is currently developing Flagrant with Michael Rapaport, Shadows in the Vineyard, a limited true crime drama starring Judith Light and Noah Wyle, the drama series, Heartbeat, co-created by legendary DJ couple Kiss and M.O.S. and the feature film, The Tank Job.
About Strong Global Entertainment, Inc.
Strong Global Entertainment, Inc. is a leader in the entertainment industry, providing mission critical products and services to cinema exhibitors and entertainment venues for over 90 years. The Company manufactures and distributes premium large format projection screens, provides comprehensive managed services, technical support and related products and services primarily to cinema exhibitors, theme parks, educational institutions, and similar venues. In addition to traditional projection screens, the Company manufactures and distributes its Eclipse curvilinear screens, which are specially designed for theme parks, immersive exhibitions, as well as simulation applications. It also provides maintenance, repair, installation, network support services and other services to cinema operators, primarily in the United States. The Company also owns Strong Studios, Inc., which develops and produces original feature films and television series.
About FG Group Holdings Inc.
FG Group Holdings Inc. is a diversified holding company with operations and investments across a broad range of industries. FG Group Holdings has a majority ownership in Strong Global Entertainment, which includes STRONG/MDI Screen Systems (www.strongmdi.com), the leading premium screen and projection coatings supplier in the world and Strong Technical Services (www.strong-tech.com), which provides comprehensive managed service offerings with 24/7/365 support nationwide to ensure solution uptime and availability. FG Group Holdings also holds equity stakes in GreenFirst Forest Products Inc., Firefly Systems, Inc., and FG Financial Group, Inc., as well as real estate through its Digital Ignition operating business.
About Fundamental Global®
Fundamental Global® is a private partnership focused on long-term strategic holdings. Fundamental Global® was co-founded by former T. Rowe Price, Point72 and Tiger Cub portfolio manager Kyle Cerminara and former Chairman and CEO of TD Ameritrade, Joe Moglia. Its current holdings include FG Financial Group Inc., FG Group Holdings Inc., BK Technologies Corp., GreenFirst Forest Products, Inc., FG Merger Corp., FG Acquisition Corp., OppFi Inc., Hagerty Inc., and FG Communities, Inc.
The FG® logo is a registered trademark of Fundamental Global®.
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the Company’s initial public offering filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Investor Relations Contact:
Mark Roberson
Strong Global Entertainment, Inc. - Chief Executive Officer
IR@strong-entertainment.com
John Nesbett/Jennifer Belodeau
IMS Investor Relations
sge@imsinvestorrelations.com
For Strong Studios Media Inquiries:
David Ozer
Strong Studios- President
David.ozer@strongstudios.com
