VGTel, Inc. (OTC: VGTL) said it has entered into a memorandum of understanding with K2 Communications to digitize and distribute a catalogue of award-winning films in the new ultra high definition digital format (UHD or 4K).
Under the arrangement, K2 will identify and secure exclusive UHD digital distribution rights for an inventory of films originally produced for IMAX theaters. The movies will be scanned from 15/70mm film to an 8K digital format and then downscaled to 4K and distributed for UHD broadcast and theatrical distribution. VGTel will finance and oversee the project and K2 will distribute the films worldwide.
Some of the films initially slated for the venture include Adrenaline Rush: The Science of Risk, India: Kingdom of the Tiger and the Academy Awarded-nominated documentary Alaska: Spirit of the Wild.
VGTel, Inc. is a multi-platform company offering products and support in the entertainment industry and is focused on a strategy of growing and building business units through investments and acquisitions. For further information, go to www.360entertainmentandproductions.com.