18 Dec 2012 07:00
Paragon Entertainment Limited
Licensed by Exclusive Media to Develop Hammer Attractions
Paragon Entertainment Limited (PEL) (the "Company"), the AIM-listed attractions design, production and fit-out business, is pleased to announce that on 17 December 2012 it executed an agreement with Exclusive Media for the rights to exclusively use the 'Hammer' brand and media to develop, build and operate 'Hammer House of Horror' visitor attractions. The worldwide exclusive agreement gives Paragon access to Hammer's enormous film catalogue and highly recognised intellectual property. The agreement runs for 10 years and provides for further extensions thereafter.
Paragon is in the process of identifying suitable locations, including central London, to create the first ever 'Hammer House of Horror'visitor attractions. This is in line with Paragon's strategy to create a portfolio of diversified family attractions to create a significant entertainments business. The Company's intention is to design, build, install and operate multiple 'Hammer House of Horror' visitor attractions.
Hammer has an illustrious history of successful horror productions, including classics such as The Curse of Frankenstein (1957) and Dracula (1958) through to the well-loved 1980s TV anthology series, Hammer House of Horror.
More recently, the return of Hammer to the horror scene was heralded with The Woman in Black, starring Daniel Radcliffe, which broke UK box office records and received considerable critical acclaim.
Hammer's next release will be The Quiet Ones starring Jared Harris and Sam Claflin.
CEO Comment
Mark Pyrah, CEO of Paragon Entertainment, commented: "Since the Paragon Entertainment Group was created a year ago, the design, build and operation of proprietary and licensed branded attractions has been one of the Company's core strategic priorities. We are delighted to have secured 'Hammer' and to be working with such a strong brand. Collaborating with Hammer to manifest this unique and innovative IP in visitor attractions takes Paragon to a new level. This combination of heritage and contemporary IP is unique and we believe that the public demand for Hammer is considerable. We look forward to updating the market with further developments in due course."
Hammer Comment
Simon Oakes, CEO and President of Hammer Films and vice-chairman of Exclusive Media commented: "We are excited to be working with Paragon. They are one of the leading companies in the UK who have a deep understanding of what UK customers want in terms of exciting visitor attractions. This deal with Paragon gives Hammer another exciting way to give our audiences and fans a chance to get involved with the characters and worlds created in our films and take fans to the next level in terms of visitor attraction and experience."
Ends
For further information please contact:
Axio Capital Solutions Limited, Company Secretary
Anita Weaver 01534 710972
Cenkos Securities plc 020 7397 8900
Ivonne Cantu (Nomad)
Alex Aylen / Julian Morse