Reflectinga shift in business strategy towards production and financing, MDP Worldwidehas changed its name to Media 8 Entertainment.

Media8 will continue to actively operate its in-house distribution division tolicense both international and domestic rights to its films.

"Media8 Entertainment is now one of the few independents in the marketplace that hasthe financial resources to 'greenlight' feature films without pre-sales,"chairman and chief executive officer Mark Damon said in a statement.

"Forthe last 10 years, MDP Worldwide has established itself as one of the leadinginternational sales companies and the name change signifies our new companymission to focus on financing and producing films, both on our own and inconjunction with our strategic international partners."

Vicechairman Sammy Lee, who represents the majority ownership interest of thecompany, added: "Since making a significant equity investment in MDP Worldwide,we have been extremely pleased to see how the company's production slate hasstarted to markedly increase and become the cornerstone for our ongoingoperational efforts.

"Ourname change symbolises a new identity and will define a benchmark for us tobring Media 8 to a higher level and become a powerful icon in the motionpicture business.

"Moreover,our change in business strategy will enable us the opportunity to selectivelypursue investments in various other media related businesses."

Thenew company name and logo will be added to all of Media 8's upcoming productionsand releases, including Patty Jenkins' crime drama Monster, which starsCharlize Theron and opens in December through Newmarket Films; Mike Binder'srelationship drama The Upside of Anger, starring Joan Allen and KevinCostner; Barbara Kopple's teen drama Havoc.

Otherupcoming releases include Greg Marck's crime thriller 11:14, starringHilary Swank and Rachael Leigh Cook and Matthew Ryan Hoge's crime drama TheUnited States Of Leland starring Kevin Spacey, Ryan Gosling, and DonCheadle.