Authentic Holdings to Acquire Goliath Motion Pictures in $11 Million Equity Deal

Authentic Holdings, Inc., a diversified company combining entertainment, technology, and textiles, is set to acquire Goliath Motion Pictures Entertainment, an independent owner of over 40,000 movie and television titles. The equity-based transaction, valued at $11 million, includes renowned content such as 'In Living Color', 'The Cosby Show', and 'Taken', along with movies like 'Open Range' and 'Blue Hawaii'. Currently, Goliath licenses its content to Maybacks Global Entertainment, which has helped expand its market footprint significantly. The decision to acquire the library instead of continuing with the licensing arrangement stems from a completed valuation analysis that values the library at $14.8 million. This acquisition aligns with Authentic Holdings’ goals to bolster Maybacks Global Entertainment's growth in the streaming space. The transaction is structured in such a way that there are no immediate dilutive effects on shareholders, as conversion of the issued Preferred Stock into common shares is limited over the next three years. Authentic Holdings and Goliath Motion Pictures plan to continue their growth trajectory with increased revenue streams and expanded content distribution channels.