(Alliance News) - Fenix Entertainment Spa on Tuesday made it known that it has signed an agreement with Galassia Cinema, a newly established company currently engaged in the establishment of a vast circuit of movie theaters, to date about 200 associated and about 200 more in the process of affiliation, throughout Italy.

"Thanks to this agreement, Fenix Entertainment strengthens the distribution branch of the company, being able to guarantee the safe release in the theaters of the circuit of films of its own production and/or those acquired from third parties for distribution. The collaboration is functional to create a vigorous Theatrical Distribution structure," the company explained in a note.

"Fenix, moreover, with this agreement aims to strengthen its presence abroad and to become a reference point of international cinema for distribution in Italy."

"To this reference, one of the focal points of the agreement between Fenix and Galassia Cinema, is that of an exclusive, close and profitable collaboration for the acquisition, distribution and joint exploitation on Italian territory of international films of great qualitative and commercial potential, aiming to position the two companies as a major player in the panorama of film distribution in Italy."

Fenix Entertainment is in the green 9.5 percent to EUR0.012 per share.

By Claudia Cavaliere, Alliance News reporter

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