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THE STOCKHOLDER’S IDEAL: Worldwide International Picture Studios (WIP Studios) is the result of a multimillion-dollar merger between independent film conglomerate Worldwide Pictures Syndicate and renowned Hollywood production house International Film Productions, Inc. International Film CEO Barak Epstein, a 20-year Wall Street veteran before entering the movie business, decided that IFP needed to extend its global reach. “Being just an ‘international’ firm is too limiting,” Epstein explained, citing his vision of an empire as the reason for the merger, “We need to become ‘worldwide’ as well, so our films can rule the entire globe.” WIP Studios is currently planning a two-for-one stock split, and company management is planning an expensive subsequent trip to Las Vegas.
THE P.R. DEPARTMENT’S EXPLANATION: Worldwide International Picture Studios (WIP Studios) was founded in 1999 after local filmmakers Barak Epstein and Shane Stein won a prestigious Douglas Foundation film grant for $10 million. Their first picture, the avant-garde project “CITIZEN HURTRIDER” earned a paltry $8.43 at the box office, and the company filed for Chapter 11 protection. Analysts everywhere attributed it to the dot-com bust: “Yes, we know they didn’t even have a website,” claimed one industry expert, “but this company did everything right – they must have secretly been an Internet company or else they would have succeeded.” Following lengthy bankruptcy proceedings and extensive corporate restructuring, WIP Studios emerged fresh in 2001, filming a $150 comedy titled “MEMORY GIRL” which attracted a cult following in Uzbekistan, and broke even when Epstein won a $150 lottery ticket.
THE TRUTH: After completing his feature-length debut CORNMAN: AMERICAN VEGETABLE HERO, North Texas film school graduate Barak Epstein partnered with Shane Stein to work on a theater exhibition project. Dubbing their new company Worldwide International Picture Studios (WIP Studios), Barak and Shane quickly moved into production and distribution, securing a DVD-release deal for CORNMAN with Sub Rosa Studios, expanding WIP’s staff and facilities, and beginning production on the feature PRISON-A-GO-GO in early 2002. In less than a year since, WIP has seen CORNMAN take “Best Comedy” accolades at the prestigious Deep Ellum Film Fest, filmed PRISON-A-GO-GO, completed a short film entitled DR. OCCULAR’S BEAUTY SCHOOL BITCHES OF DOOM for the Dallas Video Festival, and filmed another short called I WISH MY BEER WAS AS COLD AS YOUR HEART. Plans for the near future include completing our current productions, releasing soundtracks for CORNMAN and PRISON-A-GO-GO, publishing THE CONTINUING ADVENTURES OF CORNMAN comic book, and continuing with the exhibition project. WIP Studios’ goal is to provide solid movie entertainment while promoting the values, culture, and spirit of independent cinema and filmmaking.
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