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(ALLIANCE NEWS) – Fenix Entertainment Spa announced Tuesday that it has signed an agreement with Galassia Cinema, a newly formed company currently working to build a massive movie theater chain, with about 200 associated theaters to date and about 200 Movie theater above home. The process of membership throughout Italy.
“Through this agreement, Fenix Entertainment strengthens the company’s distribution arm with the ability to secure theatrical release and distribution of films it produces and/or purchases from third parties. This partnership effectively creates a dynamic theatrical offering structure,” the company explained in a note.
“Furthermore, through this agreement, Phoenix aims to strengthen its presence abroad and become a point of reference for international films distributed in Italy.”
“In this regard, one of the points of focus of the agreement between Fenix and Galassia Cinema is an exclusive, close and profitable cooperation in the acquisition, distribution and joint development on Italian territory of international films of great quality and commercial potential, aimed at combining the two The company is positioned as a major player in the Italian film distribution sector.”
Fenix Entertainment shares rose 9.5 percent to 0.012 euros per share.
By Claudia Cavaliere, League News reporter
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