Until 22 July 2005, the Company operated as Motion Picture Company of Australia Limited. The Company’s principal activity was licensing of copyright for feature films under its own library, for feature films holding distribution agreements and the distribution of entertainment products such as DVD’s.
During 2005 several significant events occurred that changed the nature of the company’s activities. These events include: settling a longstanding dispute with the Becker Group Limited; winding down its joint venture with RBC Entertainment to sell DVDs; and making a strategic decision to enter the aged care industry and operate as Harvest Living. From this point forward, the Company proceeded with various acquisitions of assets in the aged care sector. Subsequently, all of the aged care assets have been sold and the Company retains ownership of the current Media Group International film library.
The original film library (Motion Picture Company of Australia) was a mixture of films purchased and produced by the Company. Whilst some film titles from the Motion Picture Company of Australla library have since been sold, an eclectic collection of “21 st Century” films remain and make up the current Media Group International library with all associated rights, logos, trademarks and relating intellectual property.
Since 2007 the Company has investigated a number of opportunities mainly in the resources sector. None of these opportunities came to fruition. In late 2011 a new board was appointed following the execution of a call option to acquire AusAsia Energy Pty Ltd which had a similar option to acquire Jems Exploration Pty Ltd, holder of a number of EPC (Exploration Permits for Coal) applications in the Grey Ranges area of the Eromanga basin in Queensland. The new board also commenced a review of the value of the remaining film rights, the Chinese education investment and the Bauxite investment undertaken from 2007 to 2010. The Board is now solely focused on improving the value of MUI’s shares.
On 19 January 2016, the Company lodged a Notice of Meeting detailing the proposed acquisition of Skyland Petroleum Group. SPG is an exploration and production company seeking to create shareholder value by acquiring a portfolio of productive oil and gas assets with significant unrealized technical and commercial upside at attractive acquisition metrics. SPG is exploring for upside in areas adjacent to producing properties based upon existing solid cash flow, developing this cash flow and adding to its reserve base to ensure a successful and sustainable operating oil and gas company.