Authentic Holdings Acquires Goliath Motion Pictures for $11M
Strategic Acquisition by Authentic Holdings, Inc.
MORRISTOWN, N.J. – Authentic Holdings, Inc. (OTC: AHRO) has marked a significant milestone by completing the acquisition of Goliath Motion Pictures Entertainment for a total of $11 million. This addition not only enhances their asset portfolio but is viewed as a transformative step for growth and innovation in the entertainment sector.
Benefits of the Acquisition
President Chris Giordano emphasized the strategic importance of acquiring Goliath’s impressive library. He noted, "This acquisition provides Authentic Holdings the opportunity to utilize the extensive content for various avenues such as Video on Demand and revenue-sharing agreements with both corporate media giants and independent stations. This is a game-changer for us and our shareholders."
Expanding Market Presence
The acquisition is particularly strategic because Authentic Holdings is actively present in 61 designated market areas. With Goliath’s offerings, the company plans to aggressively increase its market presence, setting sights on hitting 100 DMAs and enhancing their advertising revenue with a competitive rate card for 30-second ad placements across Maybacks networks.
Diverse Content Library
Goliath Motion Pictures brings with it a treasure trove of award-winning shows and films, including classic series like In Living Color and Matt Houston, as well as acclaimed movies such as Open Range featuring legendary actors Kevin Costner and Robert Duvall. Additionally, the collection includes ten full-length Elvis Presley films and numerous documentaries and concert recordings.
Targeting Diverse Audiences
This vast library allows Authentic Holdings to optimize audience engagement, appealing to demographics across generations, which is crucial for their advertising strategies. The company is now equipped to significantly widen its footprint in the ever-evolving advertising space.
Strengthening Financial Position
The acquisition of Goliath is anticipated to provide a substantial boost to Authentic Holdings' balance sheet, enhancing shareholder equity. This fortified position is vital as the company eyes potential uplisting to a higher exchange in the foreseeable future.
Details of the Acquisition
This acquisition was executed through the issuance of Convertible Preferred Stock which imposes restrictions on conversions to common stock for three years. Only up to 20% can be converted each year, shielding shareholders from immediate dilution during the growth phase.
Vision for the Future
Priscella Holyfield-Cooper, CEO and founder of Maybacks Global Entertainment, spoke passionately about the transformative potential Goliath’s library brings to their operations. "Integrating Goliath’s content will not only expand our reach but will also redefine audience interaction across various platforms. This strategic move illustrates our dedication to delivering outstanding entertainment while paving the way for sustained financial growth," she remarked.
About Authentic Holdings
Authentic Holdings, Inc. combines entertainment with technology, aiming to build a diverse portfolio. Their collaboration with Maybacks Global and WiseDV marks an innovative approach within the streaming industry. The drive to integrate advanced technology spoke volumes about their forward-thinking strategy.
About Goliath Motion Pictures Promotions, Inc.
Goliath Motion Pictures Promotions is recognized as an independent distributor, boasting a catalog of over 40,000 titles. With 15 years of experience serving independent stations, Goliath plays a vital role in expanding content accessibility across the entertainment industry.
Frequently Asked Questions
What did Authentic Holdings acquire recently?
Authentic Holdings, Inc. recently acquired Goliath Motion Pictures Promotions for $11 million.
How will the acquisition affect Authentic Holdings' market presence?
The acquisition allows Authentic Holdings to expand into more designated market areas, aiming for a total of 100 DMAs.
What notable content does Goliath provide?
Goliath's library includes award-winning shows, films featuring stars like Elvis Presley, and numerous documentaries and concerts.
What is the financial strategy behind the acquisition?
The acquisition is expected to enhance shareholder equity and support the company’s potential uplisting to a higher exchange.
Who is the CEO of Authentic Holdings?
Priscella Holyfield-Cooper is the CEO and an initial founder of Maybacks Global Entertainment.
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