More news out -- Hold onto your shares, $4 may be here sooner than you think.
Also, I hear that the Intel relationship is growing...
Here's the release --
(PR NEWSWIRE) MSH Entertainment Acquisition of AGE will Boost '99 Revenue,
MSH Entertainment Acquisition of AGE will Boost '99 Revenue, Profits
LOS ANGELES, Nov. 10 /PRNewswire/ -- MSH Entertainment Corp.
(OTC Bulletin Board: MSHE) said today that as a result of its proposed
acquisition of Abrams/Gentile Entertainment, which is expected to close before
the end of the year, its revenues in 1999 could exceed $15 million and that
the Company would be profitable.
MSH is a family oriented, multi-platformed entertainment company.
Abrams/Gentile (or AGE as it is known) is one of the nation's better known
creators and producers of family entertainment including a long line of
successful toys produced by many of the world's major toy companies.
Robert Maerz, chairman and chief executive officer of MSH said that "upon
closing the Company, the Company will qualify for Nasdaq small-cap listing and
will become a fully reporting company.
The acquisition of AGE will give MSH Entertainment an interest in the
gross revenues of all AGE related projects including television broadcast,
toys and merchandising as well as its own projects.
AGE consists of four profitable operating divisions involved in the
creation of toys, licensing, television and stage production and the
application of technology in creating various modes of entertainment. Apart
from its licensed toy line designs, it has over 70 hours in its television
programming library and a variety of licensing agreements covering a range of
properties, merchandising and patents for "Flex Sensor" technology used in the
Power Glove.
Commenting on the proposed transaction, Mr. Maerz noted that "we draw a
lot of enthusiasm for this combination from the many successful projects we
have worked on together over the past several years.
"Combining the management expertise of the two companies insures that MSH
will have its own creative pipeline of entertainment project, conceptualizing,
creating, developing, producing and licensing both programming and ancillary
products."
Jonathan Stathakis, president of MSH added that "with the advent of the
internet and e-Commerce, we should be able to enhance our revenue stream by
retaining more of the sales and licensing revenue," noting that the Company
has made major commitment specifically to exploit the Internet and web-site
technology.
AGE was founded in 1986 and has evolved from a creative think tank and
film design studio into a full service entertainment company. Its creations
span the entire range from the children's playthings to complex concepts with
multiple characters and play patterns.
In the late 1980's AGE expanded its scope of product development into
children's television programming based on the property and related
merchandising opportunities. Among its programs, which were created, written,
produced and directed by John and Anthony Gentile, were "Visionaries," "Bucky
O'Hare," "Happy Ness: Secret of the Loch," "SkyDancers," "DragFlyz" and, of
course, "Van-pires."
In 1988, AGE's Production and Technology division developed the Power
Glove, a peripheral control unit for Nintendo's 8-bit video game system. The
first virtual reality product to be produced for the consumer market, the
Power Glove grossed over $80 million worldwide, and enabled the company to
successfully diversify from basic children's toys to the cutting edge of
virtual reality, remaining technologically savvy to date.
In 1995 the company's most successful product to date, "SkyDancers," a
flying doll for girls, was licensed to Lewis Galoob Toys, and immediately
rocketed to become the number one selling toy in the world, selling 15 million
units and grossing $300 million worldwide. The toy was supported by extensive
merchandising activities, and AGE then produced 26 half-hours of animated
programming for the first run syndication market, airing in 1996 in the U.S.
market and worldwide throughout 1997 and 1998.
AGE co-produced two first run syndicated programs for the 1995 television
season, "Happy Ness Secret of the Loch" and "Jelly Bean Jungle." Both
properties are supported by toy lines from Galoob and Ertle Toys,
respectively. "Happy Ness" was awarded the "USA TODAY: Family Channel Award
for Children's Programming Excellence." "Jelly Bean Jungle" received a
Presidential Letter of Excellence from the White House.
"DragonFlyz," a variation of SkyDancers designed for the boy's market, was
one of the hottest toys at the 1996 Toy Fair and has proven to be equally
successful. Twenty-six-half-hour animated episodes were produced for
"DragonFlyz," bringing a rating of number 1 syndicated series for boys ages
2-11. Additionally, the series was broadcast worldwide by Gaumont Television
and "DragonFlyz The Legend" was released onto the home video market by
Columbia Tri-Star, selling nearly 300,000 units to date.
This news release includes certain statements that may be considered
forward-looking under the Private Securities Litigation Reform Act of 1995.
These statements are subject to a number of important risks and uncertainties
that could cause the contemplated transactions not to occur.
SOURCE MSH Entertainment Corp.
-0- 11/10/98
/CONTACT: Bob Maerz, Chairman & CEO of MSH Entertainment Corp.,
310-664-1090; or Robert Frost, President of ECOM Consultants, Inc.,
212-391-9475, for MSH Entertainment/
(MSHE)
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