Mumbai: Earthworks Entertainment, Inc. has purchased an equity position in Oliver Stone’s movie Escobar.
EWKE president and CEO Steven Humphries said, "This is our first of many acquisitions in the recession proof entertainment and film industry."
Simultaneously with the Escobar announcement, the company also announced that James Reach has joined the company as vice president business development and is also heading up the newly formed Earthworks Films, a subsidiary of Earthworks Entertainment, Inc.
Prior to joining the company, Reach founded Beyond Reach Entertainment/James Reach Productions where he co-wrote and produced his first full-length feature film, Something’s Wrong in Kansas. In 2006, Reach partnered with Sony Pictures Entertainment and produced the film, Blonde Ambition. Reach, along with partner Stone, is currently producing Escobar, a feature film that will chronicle the life of Pablo Escobar.
Reach commented, "I’m pleased to be joining Earthworks in this new position, as we already have many movie deals in the works that we will be announcing before the end of the year. Obviously, Escobar is an important part of our launch."
Reach also said, "The company is in negotiations with major industry video game developers to produce a video game, which will be released with the movie in 3Q, 2009."
Humphries further added, "Earthworks Films will contribute a significant amount of revenue to Earthworks Entertainment over the next several months as we become a player in the exciting motion picture and film industry."