|By Marketwired .||
|June 12, 2014 04:00 PM EDT||
EFFINGHAM COUNTY, GA -- (Marketwired) -- 06/12/14 -- Medient Studios, Inc. (PINKSHEETS: MDNT) today announced that current board member, Charles Koppelman, has been appointed Chairman of the Board of Directors of Medient Studios, Inc. Manu Kumaran has been terminated as the Company's CEO, effective immediately, and has been replaced by Jake Shapiro.
Charles Koppelman is a leading brand building figure in the entertainment industry. Koppelman served as CEO and Chairman of Martha Stewart Living Omnimedia, Chairman of Steve Madden and Chairman and CEO of EMI Records. Currently he is a member of the Board of Directors of Six Flags Entertainment Corp., a director of the Las Vegas Sands Corp., as well as the Chairman and CEO of CAK Entertainment Inc., a brand development firm that provides advisory work for artists including, but not limited to, Jennifer Lopez, Marc Anthony, Nicki Minaj and Adam Levine.
Mr. Shapiro helped found several technology and commercial product companies and has helped structure and/or finance companies in Asia, South America, Australia, Western Europe, Eastern Europe, and North America. Mr. Shapiro is also a former Principal and Vice President at M.H. Meyerson & Company, where he served as a Senior Equities Trader, specializing in domestic arbitrage, and servicing clients such as Goldman Sachs, Lehman Brothers, and Deutsche Bank. Mr. Shapiro graduated with Honors from Rutgers University, where he received his Bachelor and Master of Business Administration.
"Medient has redefined long-standing paradigms with its unique and cost effective approach to media production," said Koppelman. "It is the beginning of a new era for Medient and we are focused on execution, corporate governance, and above all driving shareholder value. I look forward to working closely with Jake Shapiro and supporting Savannah's growing status as a center of influence within the media industry.
Medient Studios, Inc. (PINKSHEETS: MDNT) ('Medient') (www.medient.com) is an entertainment content creation company with a strong presence in North America, Europe and India. Medient's management team has approximately 150 years of experience in the motion picture industry and is responsible for producing and/or financing over 250 movies. Medient is realigning the content creation process to enable efficiencies of scale and eliminate process waste by building a fully integrated movie and electronic game production facility as part of its Studioplex on a 1,560-acre property in Effingham County, Georgia. Once operational this production facility will be the largest of its kind in the United States.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
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