Strong Studios Acquires the Rights to Produce Its First Original Feature Film, “The Tank Job,” A True Crime Drama
Ballantyne Strong, Inc. (NYSE American: BTN) (the "Company" or "Ballantyne") announced today that Strong Studios, Inc. ("Strong Studios"), a subsidiary of the Company's Strong Entertainment segment, acquired the rights and screenplay to its first original feature film, "The Tank Job," a true-life crime drama adapted from Norman Miller's book, The Great Salad Oil Swindle.
"The Tank Job" tells the true story of ex-butcher turned salad oil exporter Anthony "Tino" DeAngelis and his Bayonne, New Jersey blue collar crew as they conned and swindled, nearly destroyed American Express and eventually crashed Wall Street in their con to corner the market on salad oil futures in the early 1960s.
Academy Award-nominated Alec Sokolow ("Toy Story," "Money Talks," "Cheaper By the Dozen," "Evan Almighty") wrote the screenplay for "The Tank Job" and is set to direct. Sam Sokolow (NatGeo's "Genius") and Nicholas Levis ("Darkon," "Who is Christmas Eve," "Dreamkatcher," "High Strung") are producers. Award-winning business journalist, CNBC contributor, author and former hedge fund manager Ron Insana, CEO of Insana Entertainment Group, will also produce. Ballantyne's Chairman Kyle Cerminara and CEO Mark Roberson, and Strong Studios' President David Ozer ("Willy's Wonderland," "Trigger Point") serve as Executive Producers. Strong Studios is beginning discussions with potential distributors, broadcasters and streamers.
Warren Buffett, Chairman and CEO of Berkshire Hathaway, commented, "I told Ron Insana that I would be delighted to see the story of the salad oil scandal made into a movie, and I am pleased that Ron and Strong Studios are now bringing this story to the big screen."
In January 2021, Insana brought the idea for "The Tank Job" to Cerminara, and they have been collaborating on it ever since. Cerminara and Insana are former colleagues having worked together in the hedge fund industry under Steve Cohen of Point72. Both had aspirations of building feature films and documentaries that tell the stories of many of the recent great financial dramas that have occurred in the capital markets industry. It was the impetus for Ballantyne to create Strong Studios and hire Ozer to lead the charge of this business unit.
President of Strong Studios & Executive Producer David Ozer said, "The enormous fraud perpetrated by Allied Crude Vegetable Oil Refining Company and conman Anthony 'Tino' DeAngelis in 1963 is legendary, and I am excited to work with an all-star creative team to bring this riveting story of how the great salad oil scandal nearly crashed the market, swindled millions of dollars from investors, and almost decimated American Express."
Producer & CEO of Insana Entertainment Ron Insana stated, "You couldn't make Tino DeAngelis up. Everybody on the street knew the guy was shady. But, everybody was making money until, you know, they weren't. This is a crazy comedy of errors and avarice and greed and lies and deceptions. You know, Wall Street. 'The Tank Job' will be like a love child of 'The Big Short' and 'My Cousin Vinny'!"
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities of the Company or any of its subsidiaries, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
