After nearly a year of dormancy, Congress Video has undergone a “major financial restructuring” and plans to release 20 titles.
Company chairman Rick Burke says Congress, whose financier was hit by bankruptcy last summer, sublicensed the pix from HBO last January.
The company is hoping to sell at least 35,000 units of each title, all of which are on extended play and priced at $9.95, says national sales manager Tracey Samson. There are higher expectation for “Stranger’s Kiss,” starring Peter Coyote and Victoria Tennant, and Harold Pinter’s “The Servant.”
Congress Video, being renamed Congress Entertainment, is being “revitalized” with financing from an investment group that also will help the company acquire tv product, per Burke.
He also says Congress is about to announce a deal with a major studio. “I saw that a company this size couldn’t survive without associating with a much larger company to feed the pipeline and finance product,” Burke says.