URBT Set to Close Escrow on New Hollywood Studios
Urban TV Network Corp (OTCMKTS: URBT) is setting the stage for major advancements in the industry and forward movement. The expected close of the studio acquisition in the third quarter 2021. States Collins, “I am super excited for this phenomenal acquisition and the ability to forge-ahead with the vision for URBT; this is our first step of many acquisitions URBT intends to make to enhance the company’s position in the media market landscape.”
The landscape is perfect for an all-inclusive one-stop-shop. Located just outside of the Hollywood thirty-mile zone (TMZ), the studio offers the perks of a full-service television and motion picture production studio, with the ability for industry movers and shakers to create television programming, movies, music videos, tv commercials, and just about anything else that involves film or video productions.
A more edge of the seat aspect of the acquisition is that the studio occupies more than 70,000 square feet of production space and offers full production and post production facilities inclusive of 6 sound stages (complete with green rooms and space for wardrobe and makeup,) 2 screening rooms, editing bays and production offices.
Urban TV Network Corp (OTCMKTS: URBT) Negotiates $30 Million Studio Acquisition “
States Collins, “When this deal is completed, URBT will own the largest independent full-service television and motion picture production studios. This purchase will add to our revenues and increase the asset base of Urban Television Network Corp.”