LOS ANGELES, Sept. 30 /PRNewswire-FirstCall/ -- Gener8Xion Entertainment, Inc. ("Gener8Xion") (BULLETIN BOARD: GNXE) , today announced that they have acquired the rights to produce and distribute a feature length documentary based on the life and trial of Richard M. Scrushy.
The Feature length film will document the highly publicized trial of Richard Scrushy -- the founder, and former Chairman and Chief Executive Officer of HealthSouth Corporation (HLSH). Mr. Scrushy was the first corporate executive to be brought up on charges under Sarbanes-Oxley -- legislation enacted to prevent future Enron scandals. On June 28, 2005, Mr. Scrushy surprised many by emerging victorious from a Birmingham, Alabama courthouse with a 'Not Guilty' verdict on all 36 criminal counts brought by the U.S. government over his alleged role in a $2.7 billion accounting fraud. Business Week wrote at the time, "If this were a made for TV movie, it would be called, 'Revenge of the CEO.'"
"When I first became aware of the story, I remember hearing about the grassroots support rallies, court room prayer sessions and how the tide began to change. I became especially intrigued by the prosecutors' claim that Mr. Scrushy was hiding behind his religion," said Matthew Crouch, Chairman and CEO of Gener8Xion Entertainment. "Was Mr. Scrushy's faith genuine? Did prayer make a difference in the outcome of the trial? These interesting questions are the touch points for the greater debate on the legitimacy of the roles that faith and religion play in modern-day America. Our documentary will tell the stories and experiences of the people involved in the trial, and the many intriguing, behind the scene stories that few know about. This could quite well turn into a controversial, 'must see' film."
"One is always concerned about how their story will be handled," said Mr. Scrushy, "and while I expect this documentary to be rather hard-hitting at times, I feel that Gener8Xion Entertainment will accurately portray the story as it unfolded. Gener8Xion has proven to be successful in reaching audiences outside the traditional Hollywood system."
Richard Scrushy created the New York Stock Exchange-listed HealthSouth from the ground up, serving as CEO and Chairman for nearly 20 years. In addition to consolidating the health-care industry into an efficient operation, he was able to align the company with top physicians across the country, and oversee approximately $6.5 billion in strategic acquisitions. Among other distinctions, the company was named to Standard and Poor's 500 and the Fortune 500.
Gener8Xion Entertainment, Inc. (www.8x.com) is a publicly-traded entertainment company engaged in the development, production, financing and distribution of "family/faith based" feature films and television programming, media facilities management and equipment provider. Its most current feature-film project is the soon to be completed epic two-part feature film "One Night With the King" (www.8x.com/onenight) featuring Peter O'Toole, Omar Sharif, John Noble, John Rhys-Davies, James Callis, Luke Goss and newcomer Tiffany DuPont.
This news release includes certain forward-looking statements (all statements other than those made solely with respect to historical fact) and the actual results may differ materially from those contained in the forward-looking statements due to known and unknown risks and uncertainties. Any one or more of several risks and uncertainties could account for differences between the forward-looking statements that are made today and the actual results, including with respect to our sales, profits, liquidity and capital position. These factors include, but are not limited to: risks relating to our ability to satisfy regulatory requirements with respect to our internal controls over financial reporting under Section 404 of the Sarbanes-Oxley Act of 2002, which requires us to perform an evaluation of our internal controls over financial reporting and have our auditor attest to such evaluation; softness in the general retail environment or in the markets for our products; the timing and acceptance of products being introduced to the market; the level of product returns experienced; the level of margins achievable in the marketplace; the collectibility of accounts receivable; the recoupment of royalty advances; the effects of acquisitions or dispositions, the financial condition of our customers and suppliers; the realization of inventory values at carrying amounts; our access to capital; the outcome of any future Internal Revenue Service audits; and the realization of income tax and intangible assets. These conditions cannot be predicted reliably and the Company may adjust its strategy in light of changed conditions or new information. Gener8Xion Entertainment, Inc. disclaims any obligation to update forward-looking statements. Gener8Xion Entertainment, Inc. is located at 3400 Cahuenga Boulevard, Hollywood, CA 90068.
Source: Gener8Xion Entertainment, Inc.
Web site: http://www.8x.com/onenight
Web site: http://www.richardmscrushy.com/
Web site: http://www.8x.com/