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March 20, 2001 2:00 AM
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DAILY NEWS: AtomShockwave Plans; Code Red's Latest; and HIQI's Rock Doc

DAILY NEWS: AtomShockwave Plans; Code Red's Latest; and HIQI's Rock Doc



by Eugene Hernandez and Brian Brooks/indieWIRE


>> AtomShockwave to Officially Set Sail Today with Burgess, Salmi and $23 Million; Destination is Profitability by Year's End


(indieWIRE/03.20.01) -- Even though the Yahoo! Internet Life Online Film
Festival
was canceled, one of the remaining major players in the dotcom
entertainment space is using Oscar week as an opportunity to set its public
agenda and declare its official launch. This morning (Tuesday), AtomFilms
and shockwave.com will make a number of announcements related to their
recent merger. First off, the deal, which officially closed on January 15th,
has resulted in the creation of a new entity, dubbed simply AtomShockwave
Corporation
. Notably, the new company is flush with capital, securing $22.9
million in its latest round of funding.


The new outfit will maintain its two distinct online brands -- atomfilms.com
and shockwave.com -- but it should surprise no one that during such a
trying time for entertainment dotcoms, the company is looking for a way to
shed its dotcom image without losing its online roots. A company
announcement today will trumpet a worldwide Internet audience of more than
10 million people, but the AtomShockwave mission is broader. The company is
hoping, in the words of today's announcement, "to be a leading entertainment
provider for businesses and consumers in emerging media formats." Worth
watching is the company's focus, according to the announcement, on reaching
profitability by the end of this year.


Rob Burgess, the Chairman & CEO of Macromedia and a majority owner of
Macromedia prior to the AtomFilms deal, will serve as the Chairman of the
Board for the company and Macromedia is on board as one of the funders. Also
serving on the board are Richard Barton (CEO/Pres, Expedia), Robert A. Daly (Chairman, Los Angeles Dodgers), Thomas Hoegh (Arts Alliance), Michael Moritz (Sequoia Capital) and Mika Salmi, founder of AtomFilms and the CEO of AtomShockwave.


"We're thrilled to announce AtomShockwave as the corporate brand. It is a
new entertainment company with an even broader array of distribution
channels via its two distinct brand offerings," commented Mika Salmi, in a
prepared statement. "AtomShockwave will continue to be at the forefront of
the entertainment industry as both distribution and technology evolve."
[Eugene Hernandez]


RELATED ARTICLE @ indieWIRE.com:


+ (indieWIRE/12.15.00) -- An Emotional Day at AtomFilms as Company Joins
shockwave.com; 30% of Staffers Will be Laid Off as Company Heads to San
Francisco; CEO Mika Salmi Discusses Deal as Others Weigh In
http://www.indiewire.com/biz/biz_001215_briefs.html


>> Code Red Set To Kurosawa's "Cure" This Summer


(indieWIRE/03.20.01) -- The Code Red team of Noah Cowan & John Vanco from Cowboy Booking and Jeff Levy-Hinte of Antidote Films have announced their latest acquisition. The team will release Kiyoshi Kurosawa's "Cure" this summer. Code Red acquired the North American rights from Daiei Co., Ltd. This will be the filmmaker's first movie to be released here in North America.


According to yesterday's announcement, the release will coincide with the
retrospective of Kurosawa's work set to play at The Screening Room in
Manhattan, LA's American Cinematheque and The Museum of Fine Arts in Boston.


"Kiyoshi Kurosawa is one of the world's greatest filmmakers," commented
Cowboy Co-President Noah Cowan in a prepared statement, "We are proud to be
the first company in North America to release one of his films. We think it
makes a perfect addition to the Code Red slate."


Among other Code Red releases are David Gordon Green's "George Washington," Lane Janger's "Just One Time," and Liz Mermin and Jenny Raskin's "On Hostile Ground." [Eugene Hernandez]


>> Sister/Brother Directing Duo Team Up With HIQI Media in Static-X Rock Doc Release


(indieWIRE/03.20.01) -- Brother and sister duo Colin Gray and Megan Raney's "Where The Hell Are We & What Day Is It? -- This Is Static-X," about the
L.A. rock band Static-X, has been acquired for limited theatrical release by
HIQI Media, a distributor of music documentaries and short films recently
founded by former Seventh Art V.P., Oren Bitan. The full-length rock
documentary, produced by WOLO Entertainment which Colin Gray co-founded,
takes a look at the meteoric rise of the band to gold record sales with
their first major label album, "Wisconsin Death Trip" (released by Warner
Bros. Records
in March, 1999).


Interviews with the band, which includes front-man/guitarist Wayne Static,
drummer Ken Jay, bassist Tony Campos and new guitarist, Tripp Eisen, along with footage of studio recording sessions, and concert footage are featured
in the doc. The documentary's release schedule includes dates this week in Boston and next week in New York and Los Angeles with slots in Phoenix, Minneapolis and Chicago.


"We're thrilled that HIQI Media and Warner Bros. Records saw the merit in a
theatrical release," commented the film's producer and WOLO co-founder,
Kristine Lacey in a prepared statement. "This has been a long journey for
WOLO and even longer one for the band -- we're just happy that their fans
will get a chance to experience their dream-come-true, rock-n-roll journey
on the big screen."


HIQI Media's head Oren Bitan has organized theatrical releases for many
notable music documentaries, including "Better Living Through Circuitry" by
Jon Reiss and Radiohead's "Meeting People Is Easy" directed by Grant Gee. Brother/sister duo Gray and Raney will team up to direct WOLO's first
feature film, "Timberline" in summer 2002. [Brian Brooks]

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