MUMBAI: Big Star Media Group, Inc has executed a binding letter of intent with Gary and Carol Vincent of Vincent Productions to secure ongoing media content including the transfer of media assets and intellectual property rights from their ongoing joint venture with Morgan Freeman and Bill Luckett to Big Star Media.
As part of the agreement, Vincent will transfer all ownership in the music and film series entitled Down to the Crossroads hosted by Morgan Freeman, into a newly formed entity that will be a subsidiary of Big Star Media. The new entity will provide ongoing content to Big Star Media for distribution to film, television, mobile and internet platforms. Down to the Crossroads is a series filmed largely at the world-famous Ground Zero Blues Club where a modern rock star is paired with a blues legend and extols the impact the blues great has made on their career and the industry as a whole. The Ground Zero Blues Club is owned by partners Morgan Freeman and Bill Luckett.
The company is formalizing debt relationships with Vincent in consideration of the transfer of the assets into Big Star Media. The Company anticipates further disclosure in the near future on this matter.
Additionally, Big Star Media has also agreed to create a jointly owned record company with Vincent to provide music content and the ongoing usage of the Clarksdale sound stage production and recording studio located in Clarksdale, Mississippi for the purposes of film and media production as well as artist development for the Company.
Big Star Media Group CEO Jeff Skillen said, "I’m excited to formalize our relationship with Gary and Carol Vincent – they bring tremendous assets and industry perspective to the table, all of which will prove to be invaluable to the Company as we execute our business plan."
"Today’s announcement further solidifies our commitment to Big Star Media and its future. We are confident that the strategic plans Big Star has in place, combined with our core competencies, will be a winning combination. Carol and I are thrilled about the opportunities that lie ahead," said Gary.
Carol will continue as a director of the Company and shall be an officer in both newly created music and film companies. Gary Vincent shall be a senior vice president of Big Star Media Group and president of the newly created music and film companies.