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VGTel, Inc. Announces Plans to Acquire Digital Rights to Film Libraries for 4K Ultra-High Definition Scanning and Distribution(April 08, 2014)
NEW YORK, NY--(Marketwired - April 08, 2014) - Continuing its strategy of delivering new media content to audiences around the world, VGTel, Inc. (OTCQB: VGTL) today announced that it is currently in discussions with major studios and independent producers to acquire the digital rights to archived film libraries for scanning to 4K ultra high definition ("Ultra-HD").The strategic announcement comes on the eve of MIP TV, the international film market held annually in Cannes, France on April 7-10, 2014.
After acquiring the digital rights to a series of 'giant screen format' films in late 2013, VGTel scanned the films to digital 8K resolution and is now downscaling the movies to 4K Ultra-HD and presenting the films to buyers at MIP TV this week.The company is also seeking to obtain the digital rights to 100-300 titles (including both English language and foreign films) for scanning and digital distribution in Ultra-UHD or higher resolution.
"With our recent acquisition of the digital rights to massively popular and 'evergreen' documentary titles like Alaska, Bears and Adrenaline Rush, we want to continue to expand the company by not only acquiring more 4K titles but also by aligning with businesses in live action film production, visual effects, and post production technologies," said Neil Fogel of VGTel.
The acquisition of film properties for restoration and 4K digital distribution is in alignment with VGTel's strategic priorities for continued long-term growth."We are looking to acquire libraries of quality productions with global appeal that are well suited for Ultra-HD digital platforms," added Fogel."We believe UHD hardware sales will continue growing and there is significant potential for the owners of 4K film libraries.The goal is to create additional long-term value for our shareholders."
About VGTel, Inc.
VGTel, Inc. is a multi-platform company offering products and support in the entertainment industry and is focused on a strategy of growing and building business units through investments and acquisitions. For further information, go towww.360entertainmentandproductions.com.
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VGTel, Inc. dba 360 Entertainment & Productions
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