Automated-X, Inc. Changes Name to Saddle Ranch Media, Inc.
Oct 07, 2015
OTC Disclosure News Service
Automated-X, Inc. (the “Company”) (OTC PINK: AUTX) announced today that
it recently changed its name to Saddle Ranch Media, Inc. (“Saddle Ranch
Media”) pursuant to the acquisition with Saddle Ranch Pictures, Inc.
(“Saddle Ranch Pictures”) which closed on August 15, 2015. In addition,
its trading symbol was changed to SRMX.
Pursuant to the recent acquisition, the Company acquired Saddle Ranch
Pictures in a stock transaction resulting in the shareholders of Saddle
Ranch Pictures owning a majority of the Company’s outstanding shares of
Over the next three years, Saddle Ranch Media intends to focus on
creating diversification and strong growth for the Company in each of
its Film, Television and Digital Media operating divisions. In the Film
Division, the Company anticipates the development of five feature length
films. In the Television Division, the development of two or more
reality television productions and three or more documentaries is
planned. In the Digital Division, the Company intends to exploit
existing and new assets to capitalize on the significant growth in the
number of operating screens and Internet video networks that consumers
can use to access quality content.
Company management notes that overall environment for media and
entertainment content continues to be favorable with filmed
entertainment having grown consistently over the past 80 years proving
to be one of the most recession-proof streams. Filmed entertainment
revenues are estimated to surpass $100 billion by the year 2017. While
traditional box office is slated to grow, a strong anticipated rise in
video-on-demand (VOD), and over the top streaming services (OTT) such as
Hulu or Netflix. Additional outlets for creative products will also
increase the revenue possibilities for Saddle Ranch Media.
In addition to its internally developed projects, Saddle Ranch Media
owns a 7.5% partnership interest Troika Pictures (“Troika”) that
provides both cash flow and industry contacts. Troika recently released
the very successful feature film “The Call” starring Halle Berry and
Abigail Breslin, and “The Road Within” currently on Netflix, starring
Robert Sheehan, Dev Patel, Zoë Kravitz with Robert Patrick and Kyra
Sedgwick. Troika will soon release “Careful What You Wish For” starring
Nick Jonas, Isabel Lucas, Paul Sorvino and Dermot Mulroney.
Philip M. Cohen, the Company’s Chairman and Chief Executive Officer,
stated, “With Saddle Ranch Media’s three operating divisions (Film,
Television and Digital Media), we are well-positioned to capitalize on
the rapidly expanding demand for content in today’s marketplace. Our
experienced and entrepreneurial management team intends to develop
diversified, marketable content to drive shareholder value.”
The Company’s experienced management team includes Philip Cohen, Michael
Marcovsky and Alan Bailey.
Philip M. Cohen, the Company’s Chairman and Chief Executive Officer, is
known for being an investor, director, producer and executive producer
of over 1,000 films, TV shows and digital video programming. Mr. Cohen
has a rich entertainment marketing background which began 35 years ago
with 20th Century Fox Film Corporation. Holding various positions with
20th Century Fox, Mr. Cohen was involved in the distribution and
licensing tie-in promotions for the final “M*A*S*H” TV series, “Star
Wars” and the “Porky’s” film series. In 2001, Mr. Cohen founded PetCARE
Television Network, a place-based media network for waiting rooms of
North American veterinary offices. In 2003, he launched KidCARE TV, a
similar concept for waiting rooms of pediatrician offices. In 2008, he
launched Women’s HealthCARE TV for OB/GYN waiting rooms. All three
networks later operated under the banner of CARE Media Holdings Corp
where Mr. Cohen began serving as President in 2008. In 2009, Phil became
the third partner in Troika Pictures, Inc.
Michael Marcovsky, the Company’s President and Chief Operating Officer,
has been a veteran television and media executive with over five decades
with executive experience in broadcast television, cable and related new
media. Michael was assistant to the President of WPIX, Inc. where he was
directly involved in the direction and management of its radio and
television properties. As Vice President of Program Operations with
Warner Cable, he played a key role in the development of the interactive
PPV cable television system. Later, he became Vice President of Pay TV
for Buena Vista Distributing, a division of Walt Disney Productions
where he introduced Disney products to Pay TV and laid the foundation
for the Disney Channel. Michael has served on many industry boards and
associations throughout his career. Through his consulting firm, he has
developed strategies for entry into new arenas of television, pay
television, cable, new media and pay per view.
Alan Bailey, the Company’s Chief Financial Officer, Secretary and
Treasurer, was Senior Vice President and Treasurer of Paramount Pictures
Corporation, a wholly owned subsidiary of Viacom. He served at Paramount
Pictures from September 1975 through March 2009 and was the Financial
Controller of Paramount Pictures International in Amsterdam from 1975 to
1979. He then became Treasurer, and ultimately Senior Vice President,
with Paramount Pictures in New York from 1980 to 1986. Prior to joining
Paramount Pictures, he was Senior Audit Director for the Bermuda
affiliate of Ernst Young. Alan is a Fellow of the Institute of
Chartered Accountants of England and Wales.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy securities of Saddle Ranch Media, Inc.
Certain statements in this release and other written or oral
statements made by or on behalf of the company, are “forward-looking
statements” within the meaning of the federal securities laws.
Statements regarding future events and developments and our future
performance, as well as management’s expectations, beliefs, plans,
estimates or projections relating to the future are forward-looking
statements within the meaning of these laws. The actual results the
company achieves may differ materially from any forward-looking
statements due to such risks and uncertainties. These statements are
based on our current expectations and speak only as of the date of such
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of future
events, new information or otherwise.
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