THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Monday, December 5, 1994 TAG: 9412030159
SECTION: BUSINESS WEEKLY PAGE: 2 EDITION: FINAL
LENGTH: Short : 35 lines
Last week we traced the origins of New Dominion Pictures Inc., a Virginia Beach producer of documentary films. New Dominion founder Tom Naughton told us he intended to produce a film at Atlantic Film Studios in Suffolk, but the effort failed because the studio was distracted by financial woes.
Richard S. Marten, vice president of Atlantic Studios Corp. in Suffolk, wrote us to object.
Marten: Atlantic Studios, closed for almost four years, is back in operation with different principals and managed by a company unrelated to the former operator.
However, it is incumbent upon me as a former owner of the studio to correct certain information printed in your publication.
Mr. Naughton and two partners approached us in 1990 to produce a film at Atlantic Film Studios and requested partial financing from Atlantic Film. The gentlemen informed us that 50 percent of the funding would be coming from clients of Mr. Naughton's brother. Subject to that proviso, we agreed to arrange for half the budget.
However, they were never able to come up with their end of the transaction and the project fell apart, but not due to any failure on the part of Atlantic Film.
Naughton replies: Mr. Marten's recollection of events from 1989 and 1990 differ from mine greatly and he is entitled to his views. by CNB