Replies to post #4309 on Medient Studios Inc. (fka MDNT)

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http://ih.advfn.com/p.php?pid=nmona&article=54725250
Medient Studios, Inc. (OTCQB: MDNT) today announced that Magnet Releasing has acquired the North American distribution rights to the Company's horror film "STORAGE 24," written by and starring Noel Clarke ("Dr. Who," "Star Trek 2") and co-produced with Clarke's London-based Unstoppable Entertainment

Magnet Releasing is the genre arm of Magnolia Pictures (www.magpictures.com) and the theatrical and home entertainment distribution arm of the Wagner/Cuban Companies, a vertically-integrated group of media properties co-owned by Todd Wagner and Mark Cuban that includes the Landmark Theatres chain and the high-definition cable network HDNet.

The film will be released through the distributor's Ultra VOD program, debuting on all "video on demand" platforms on December 6, 2012, followed by a theatrical release in early January 2013.

"We are thrilled to be partnering with the Magnet team," commented Manu Kumaran, Chief Executive Officer of Medient Studios, Inc. "'STORAGE 24' has been well received in Europe and Asia, and we are confident that U.S. fans of the genre will greatly enjoy our version of a monster movie."

"'STORAGE 24' will be a real delight for monster movie fans," said Magnolia President Eamonn Bowles. "It delivers scares in spades."

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For the year ending December 31, 2012, the Company recognized $3,267,485 in revenue, resulting from the release of its horror genre film Storage 24. In addition, long term liabilities were significantly reduced in the fourth quarter of 2012, and the first quarter of 2013, resulting in a improved stronger balance sheet.